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ISM Manufacturing index Increased to 56.0 in August

The ISM manufacturing index indicated expansion in August. The PMI was at 56.0% in August, up from 54.2% in July. The employment index was at 46.3%, up from 44.3% last month, and the new orders index was at 67.6%, up from 61.5%.

Click on graph for larger image.

Here is a long term graph of the ISM manufacturing index.

This was above expectations of 54.5%, but the employment index indicated further contraction.

This suggests manufacturing expanded at a faster pace in August than in July.

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