US Manufacturing Activity Contracts for a Fifth Straight Month
- ISM August factory index at 47.2 after 46.8 a month earlier
- Orders gauge shows steepest contraction since May 2023
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US manufacturing activity shrank in August for a fifth month, reflecting faster rates of declines in orders and production.
The Institute for Supply Management’s manufacturing gauge edged up 0.4 point to 47.2, data out Tuesday showed. A reading below 50 indicates contraction.