August manufacturing activity remained unchanged as uncertainty over tariffs persists, according to the PMI.

U.S. manufacturing activity remained flat in August, despite a rise in new orders to 51.4%, indicating the first expansion in six months. The Institute for Supply Management reported a PMI of 48.7%, suggesting contraction, with production dropping significantly. Concerns over tariffs persist, with 89% of surveyed participants citing them as a major issue, leading to uncertainty in hiring and production. Meanwhile, S&P Global's Manufacturing PMI rose to 53%, reflecting increased new orders and inventory building, but also raising concerns about future price inflation.