U.S. Manufacturing was august in August--with 3.2% growth

US PMI GROWTH August 2018 Tidbit.png

According to a recent MDM article, the Institute for Supply Management's Purchasing Manager’s Index increased 3.2 percentage points during the month to a reading of 61.3. This was its highest level since May 2004, when the index reached a reading of 61.4.

ISM said the results indicate strong growth in manufacturing for the 24th straight month, led by continued expansion in all of the Report’s subindexes. A PMI above 50 percent indicates the manufacturing economy is expanding; a reading below 50 percent indicates it is contracting. ISM said the results show that the overall economy grew for the 112th straight month in August.

Click here to see the article.