WASHINGTON– Manufacturing activity in the United States was unchanged in August, according to the ISM trade federation index released on Thursday.
The index was 52.8%, as in July, exceeding analysts’ expectations. However, it is at its lowest level since June 2020 for the third month in a row.
Activity increases when the index is above 50% and decreases when the index is below 50%.
“New orders have returned to growth levels, supplier supplies remain under pressure, and prices have eased, reflecting a move toward a more balanced supply and demand,” said Timothy Fiore, head of the investigation.
And while “demand sentiment remains upbeat,” respondents expressed concern about a weakening economy, he added.
On the employment front, companies continued to hire at strong rates in August, with respondents reporting lower outflows, suggesting labor market tensions are beginning to ease.
source : diario las americas