In August, the seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) was 47.9, dipping 1.1 points from July. Manufacturers reported tempered employment growth and a continued decrease in new orders.
The PMI index comprises five sub-indices tracking changes in new orders, output, employment, suppliers’ delivery times and stocks of raw materials. A reading above 50 indicates growth, while below represents a contraction. See S&P Global