The Institute for Supply Management's (ISM) Purchasing Managers' Index (PMI) came below expectations in the month of August, reporting a print of 47.2...
The Institute for Supply Management's Purchasing Managers' Index came below expectations in the month of August, reporting a print of 47.2 .Here you construction spending also coming in weaker than anticipated.That is not what the Federal Reserve is going to be looking for signs of an increase in inflationary pressures within manufacturing.I manufacturing employment for August was revised up to 46 versus 43.4 in the previous month.
So you're seeing a bit stronger number there in terms of the hiring in this manufacturing data, which could be an indication of where we are headed for that jobs report coming in here on Friday. But I think it looks like the market not only focusing on this data but also kicking off a rough month for markets here as we get the September trade on.
Yeah, one note within this, they say that while still in Contraction territory, US Manufacturing Act contracted slower compared to last month. Demand continues to be weak output declined and inputs they stayed accommodative specifically on demand.And then you also had the backlog of orders index remaining in strong contraction territory plus customers Inventories index at the, uh, just right level.So all of those things consider some of those factors that into the broader environment that we're tracking within manufacturing at this juncture, according to IM.So just some size and scope for our audience there.
Madison Mills Institute For Supply Management Brad Smith Purchasing Managers' Index
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