- Prior month 55.6
- ISM manufacturing PMI for August 54.6 versus 55.2 estimate.
- Employment index 51.2 versus 53.0 estimate. Last month 52.8
- New orders 53.7 versus 56.7 last month
Summary of the components vs last month and the changes
- Manufacturing PMI: August 54.6 vs July 55.6. Down 1.0 point MoM.
- New Orders: August 53.7 vs July 56.7. Down 3.0 points MoM.
- Production: August 58.3 vs July 58.5. Down 0.2 point MoM.
- Employment: August 51.2 vs July 52.8. Down 1.6 points MoM.
- Supplier Deliveries: August 59.3 vs July 58.9. Up 0.4 point MoM.
- Inventories: August 50.6 vs July 51.2. Down 0.6 point MoM.
- Customers’ Inventories: August 42.8 vs July 40.7. Up 2.1 points MoM.
- Prices: August 71.1 vs July 71.1. Unchanged MoM.
- Backlog of Orders: August 51.8 vs July 55.0. Down 3.2 points MoM.
- New Export Orders: August 53.2 vs July 53.0. Up 0.2 point MoM.
- Imports: August 52.5 vs July 55.7. Down 3.2 points MoM.
The components showed more weakness vs last month
- Including the headline PMI, 3 readings rose, 7 fell and 1 was unchanged.
- Among the 10 components alone, 3 rose, 6 fell and 1 was unchanged.
Overall, the August report was weaker than July although most of the levels remain above the 50 level. Manufacturing continued to expand, but the headline PMI fell to 54.6 from 55.6. New orders, production, employment and order backlogs all lost momentum, while imports also slowed.
The increases were not uniformly positive. Higher supplier deliveries indicated slower deliveries, while rising customers’ inventories meant inventories were less depleted. New export orders improved only marginally. Prices remained elevated at 71.1, showing no easing in price pressures despite the slower growth.
This article was written by Greg Michalowski at investinglive.com.