Economic activity in the US manufacturing sector grew in August, with the overall economy experiencing a 15th consecutive month of growth, according to the latest Manufacturing ISM Report On Business.
The August Manufacturing PMI registered 59.9 percent, an increase of 0.4 percentage point from the July reading of 59.5 percent. This figure indicates expansion in the overall economy for the 15th month in a row after contraction in April 2020. Index breakdown:
Index | August level | July level |
New Orders | 66.7 | 64.9 |
Production | 60 | 58.4 |
Backlog of Orders | 68.2 | 65 |
Employment | 49 | 52.9 |
Supplier Deliveries | 69.5 | 72.5 |
Inventories | 54.2 | 48.9 |
Prices | 79.4 | 85.7 |
New Export Orders | 56.6 | 55.7 |
Imports | 54.3 | 53.7 |
The 15 manufacturing industries reporting growth in August, in the following order, are: furniture and related products; computer and electronic products; machinery; primary metals; electrical equipment, appliances and components; fabricated metal products; plastics and rubber products; chemical products; miscellaneous manufacturing; food, beverage and tobacco products; transportation equipment; wood products; printing and related support activities; paper products; and petroleum and coal products.
The two industries reporting a decrease in August compared to July are textile mills; and nonmetallic mineral products.