U.S. Factory Activity Fell in August for Fifth Straight Month
Sept. 3, 2019 (EIRNS)—U.S. factory activity was down in August, for the fifth straight month, as measured by the Purchasing Managers Index kept by the Institute for Supply Management. The index level for August was 49.1, when the level of 50 is considered baseline for stable activity, and anything below that indicates contraction. This August level is the lowest in three years—since January, 2016. The index level has gone down for five consecutive months, starting at 55.3 in March, and now finally falling below 50 for August. The index is designed to reflect the trend in volume of factory orders, production and hiring.