US manufacturing slows in Aug.; PMI at three-year low

Sep 04, 2012 | 04:23 PM | Catherine Ngai

Tags  Institute for Supply Management, Purchasing Managers' Index, PMI, manufacturing sector, NAM, Bradley Holcomb, Chad Moutray, economic activity

NEW YORK — The U.S. manufacturing sector contracted in August for the third time since July 2009, according to data released Tuesday by the Institute for Supply Management (ISM).

The purchasing managers’ index (PMI) also fell to its lowest figure since July 2009, dropping 0.2 percentage points month on month to 49.6 percent. A reading above 50 percent indicates that the sector is generally expanding. ....

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