The August Manufacturing Report from the Institute for Supply Management (ISM) indicates that manufacturing output has experienced negative growth for five consecutive months, with the PMI at 47.2, slightly up from July’s 46.8. Key metrics like New Orders, Production, and Employment showed continued contraction, while some sectors, like Primary Metals and Petroleum, reported growth. ISM noted a significant slowdown in business activity, with concerns about staffing and production. Tim Fiore of ISM highlighted the uncertain impact of a potential Federal Reserve interest rate cut and upcoming elections on the sector.

Source: https://www.logisticsmgmt.com/article/august_manufacturing_activity_slows_down_again_reports_ism/