Manufacturing PMI® at 47.6%; August 2023 Manufacturing ISM® Report On Business®

The latest Manufacturing ISM Report On Business reveals that economic activity in the manufacturing sector has contracted for the 10th consecutive month in August, following a period of growth, with new orders, employment, backlogs, and raw materials inventories all contracting.

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Relevant topic timeline:

8/23/2023

German business activity suffers steepest decline since May 2020

German business activity contracted at its fastest rate in over three years in August, with both the services and manufacturing sectors experiencing a downturn, as rising interest rates, customer uncertainty, and high inflation weighed on demand for goods and services.

8/29/2023

China's factory activity likely extended declines in August - Reuters poll

China's factory activity is expected to contract for a fifth consecutive month in August due to weak demand, posing challenges to the country's economic recovery.

8/31/2023

China's factory activity shrinks for a fifth straight month in August

China's factory activity contracted for the fifth consecutive month in August, indicating that the slowdown in the country's economy has not yet reached its lowest point.

8/31/2023

China's factory activity shrinks for 5th month, maintains pressure for policy support

China's manufacturing activity contracted for a fifth consecutive month in August, putting pressure on officials to provide support to boost economic growth amid weak domestic and international demand.

9/1/2023

ISM factory index stumbles for 10th consecutive month in August

U.S. manufacturing activity rose in August, but the sector remains in contraction territory according to the Institute for Supply Management, suggesting that a sustained recovery is unlikely amid a weakening global economy.

9/5/2023

Column: Prolonged US manufacturing slowdown barely dents energy use

U.S. manufacturers reported a decline in business activity for the 10th consecutive month in August, but the declines are becoming less widespread, suggesting that the trough in the cycle may be approaching.

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Posted 9/1/2023, 2:00:00 PM

Manufacturing PMI® at 47.6%; August 2023 Manufacturing ISM® Report On Business®

prnewswire.com

Relevant topic timeline:

8/23/2023

German business activity suffers steepest decline since May 2020

8/29/2023

China's factory activity likely extended declines in August - Reuters poll

China's factory activity is expected to contract for a fifth consecutive month in August due to weak demand, posing challenges to the country's economic recovery.

8/31/2023

China's factory activity shrinks for a fifth straight month in August

China's factory activity contracted for the fifth consecutive month in August, indicating that the slowdown in the country's economy has not yet reached its lowest point.

8/31/2023

China's factory activity shrinks for 5th month, maintains pressure for policy support

9/1/2023

ISM factory index stumbles for 10th consecutive month in August

9/5/2023

Column: Prolonged US manufacturing slowdown barely dents energy use