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Economic activity in the U.S. manufacturing sector decelerated further in August, according to the purchasing managers index for manufacturing, released today by the Institute for Supply Management. The institute’s manufacturing index fell to a reading of 49.6 in August, down from 49.8 in July.
August’s reading marks a further deceleration from June. Only readings above 50 indicate expansion.
The employment portion of the index fell to a reading of 51.6 in August, still indicating growth, but that growth is slower than the reading of 52.0 in July.