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US Manufacturing PMI at 52.8%; August 2022 Manufacturing ISM Report On Business
Economic activity in the manufacturing sector grew in August, with the overall economy achieving a 27th consecutive month of growth, say the nation's supply executives in the latest Manufacturing ISM® Report On Business®. "The August Manufacturing PMI® registered 52.8 percent, the same reading as recorded in July. This figure indicates expansion in the overall economy for the 27th month in a row after contraction in April and May 2020. For a second straight month, the Manufacturing PMI® figure is the lowest since June 2020, when it registered 52.4 percent. The New Orders Index registered 51.3 percent, 3.3 ... (full story)
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US: ISM Manufacturing PMI unchanged at 52.8 in August vs. 52 expected
The ISM Manufacturing PMI arrived at 52.8 in August, showing that the business activity continued to expand at the same pace as it did in July. This data came in better than the market expectation of 52. Key takeaways "The New Orders Index registered 51.3%, 3.3 percentage points higher than the 48% recorded in July." "The Production Index reading of 50.4% is a 3.1-percentage point decrease compared to July's figure of 53.5%." "The Prices Index registered 52.5%, down 7.5 percentage points compared to the July figure of 60%; this is the index's lowest reading since June 2020 (51.3%)." "The Backlog of Orders Index ... (full story)
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US Manufacturing Surveys Signal Weakest Growth In Over 2 Years, Prices Paid Plunges
S&P Global's Manufacturing surveys for August have not been pretty. Turkey, Italy, Germany, UK, the Eurozone aggregate, and Canada all printed below 50 this morning (in contraction) but US Manufacturing was expected to hold just above the Maginot Line at 51.3 and it did. However, the final August print of 51.5 (small improvement over the flash print) is the weakest since July 2020. The ISM Manufacturing survey was flat at 52.8 from July (better than the 51.9 expected). Interestingly, S&P Global notes that 'delivery delays are the least extensive since October 2020' - which in our new normal is actually a good sign ... (full story)
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