Breaking: US ISM Manufacturing PMI Rises to 47.2 in August, Below Expectations

The ISM Manufacturing PMI in the United States rose slightly to 47.2 in August, up from 46.8 in July, indicating continued contraction in the manufacturing sector, albeit at a slower pace. This figure fell short of market expectations, which had predicted a rise to 47.5.

Key details from the report include a recovery in the Employment Index, which improved to 46 from 43.4 in July. However, the New Orders Index declined further to 44.6 from 47.4, signaling weaker demand. The Prices Paid Index, a key inflation measure, increased to 54 from 52.9, suggesting rising input costs.

Despite the modest improvement, Timothy R. Fiore, Chair of the ISM Manufacturing Business Survey Committee, noted that "U.S. manufacturing activity contracted slower compared to last month," but highlighted that demand remains weak and output continues to decline.

The US Dollar Index showed little reaction to the data, remaining virtually unchanged at 101.62 at the time of reporting.