WASHINGTON: U.S. manufacturing activity eased in August after strong growth in the prior month, with new orders slowing and input prices remaining high amid persistent supply-chain strains.
The Institute for Supply Management said on Tuesday its manufacturing PMI fell to a still-elevated 54.6 last month from 55.6 in July, which was the highest reading since May 2022. Economists polled by Reuters had forecast the PMI would drop to 55.2. The PMI has held above the 50 threshold this year, indicating growth in the manufacturing sector.
