United States PMI

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United States: ISM manufacturing index inches down in July, but remains in expansionary territory

August 3, 2015

In August, the ISM manufacturing index moderated from the 52.7% recorded in July to 51.1% in August, which marked the lowest reading in over two years. The result undershot market expectations of an increase to 52.8%. Moreover, the loss puts the index dangerously close to the 50.0% threshold that distinguishes between expansion and contraction in the manufacturing sector.

The index was dragged down by weaker readings in the production and new orders categories. Employment and inventory levels were down moderately, whereas supplier delivery times increased slightly in August.

FocusEconomics Consensus Forecast panelists expect that industrial output will increase 4.1% this year, which is up 0.1 percentage points from last month’s forecast. For 2016, panelists see industrial production decelerating to a 3.5% expansion.

Author:, Economist

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United States PMI Chart

USA PMI July 2015 0

Note: Composite index in the Manufacturing Report on Business (PMI). Readings above 50% indicate an expansion in the manufacturing sector while readings below 50% point to a contraction.
Source: Institute for Supply Management.

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