U.S. manufacturing contracted for a sixth consecutive month in August, with the ISM manufacturing purchasing managers index (PMI) easing back to 48.7 from 48.0 in July, indicating continued weakness in traditional industrial activity.
Tariffs and sluggish demand continue to weigh on output, pressuring employment and production. The PMI's production index slipped to 47.8, and firms continue to trim headcounts amid subdued sentiment.
