Keeping you up to date on the latest data releases.
- ISM Purchasing Managers Index
The ISM’s Manufacturing Purchasing Managers Index (PMI) unexpectedly ticked up from 55.5 in July to 56.3 in August, interrupting a string of three months in which the rate of manufacturing growth slowed relative to April’s recent peak of 60.4. The overall increase was largely due to increases in the production index (up from 57.0 to 59.9 in August), and the employment index, which jumped up from 58.6 to 60.4 in August—its highest level since November 1978 (which may portend well for the manufacturing sector in Friday’s employment report). Elsewhere, inventories rose modestly during the month, though both new orders and supplier deliveries edged lower in August.