Manufacturing growth slows in August as economic concerns loom: ISM

This audio is auto-generated. Please let us know if you have feedback.

Economic activity in the U.S. manufacturing sector expanded in August for the eighth consecutive month to 54.6%, but that was 1 percentage point lower than July, according to the Institute for Supply Management’s latest Purchasing Managers’ Index.

The overall economy grew for the 22nd month in a row, ISM reported. A figure below 50% indicates an industry in contraction.

The S&P Global U.S. Manufacturing PMI registered 53.9%, unchanged from July.

“Although we’re in the eighth month of an expansion trend, the Iran war and tariffs threats continue to be the biggest concern to the manufacturing economy,” Susan Spence, chair of ISM’s Manufacturing Business Survey Committee, said during a media call on Monday.