Keeping you up to date on the latest data releases.
- ISM Manufacturing
The ISM’s Manufacturing Purchasing Managers Index (PMI) continued to stagnate, edging to from 50.9 in July to 50.6 in August, hovering just 0.6 points above the ISM’s growth threshold of 50. Performance was mixed across the five components that comprise the PMI. On the positive side, the new orders index improved from 49.2 to 49.6 in August (though remained below the diffusion index’s threshold of 50), the inventories index rose from 49.3 to 52.3 during the month, and supplier deliveries edged up as well. On the other hand, the production index slipped down from 52.3 to 48.6 during the month, its first dip below 50 since May 2009. The index has now fallen 20.4 points since March 2011. The employment index ticked down from 53.5 in July to 51.8 in August, its lowest value since November 2009, and like the production index, has fallen precipitously since early this year and has declined 12.4 points since a recent cyclical high in February. The prices index (which is not seasonally adjusted and does not enter into the overall PMI) continued to ebb, falling 3.5 points to 55.5 in August and is now down 30 points since April.