The seasonally adjusted S&P Global U.S. Manufacturing Purchasing Managers’ Index (PMI) for August was 53.0, up 3.2 points from July and marking the most progress in over 3 years. Manufacturers reported a substantial increase in production from increased new orders and inventory buildup.
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