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August’s PMI ranks highest in two years-will September be able to top this?

  • ​​​Helped by employment gains, manufacturing expanded at a faster rate in August. As per the data released by the Institute for Supply Management (ISM), the Purchasing Managers Index (PMI) registered at 58.8 percent, highest in the past two years. These latest figures confirm the ongoing growth in the U.S. manufacturing sector.
  • August 2016 was the last time the PMI went below the 50.0 percent mark indicating manufacturing is contracting. Since then the PMI has continued to grow above 50.0 percent, signifying expansion in manufacturing.
  • With a positive business outlook and stable gains in sales, both the indices for new orders and production increased, a sign of strong demand and output in the sector.
  • The ISM-Purchasing Managers index is a leading industry indicator to measure the economic health of the manufacturing sector. In the U.S., PMI is a composite of five sub-indices: new orders, production, employment, supplier deliveries and inventories.​

Source: JLL Research, Institute for Supply Management ​

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