Economy
September 1, 2016
Manufacturing Declines in August, Says ISM
Written by Sandy Williams
Manufacturing contracted in August after five consecutive months of growth, according to the latest Manufacturing Report on Business from the Institute of Supply Management.
ISM reported the August PMI at 49.4, down 3.2 points from July at 52.6 percent. It was the first time the index has slipped since February of this year. New orders and production were down 7.8 percent and 5.8 percent, respectively. Order backlogs decreased at a faster rate.
