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US Manufacturing Growth Holds Steady, Inflation Pressures Ease

  • ISM gauge of factory activity unchanged at two-year low
  • Index of prices paid declines for a fifth straight month
Bloomberg business news
US Manufacturing Is on a Glidepath, ISM's Fiore Says
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US manufacturing growth steadied in August at the slowest pace in over two years, while a measure of materials costs declined for a fifth-straight month in a welcome sign inflationary pressures are abating.

The Institute for Supply Management’s gauge of factory activity held at 52.8, matching the lowest level since June 2020, according to data released Thursday. Readings above 50 indicate expansion, and the latest figure compared with a median projection of 51.9 in a Bloomberg survey of economists.