In August, the seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) was 47.9, decreasing 1.7 points from July and marking the lowest reading in eight months. Manufacturers reported a decline in production, employment, demand, and 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
