Economy / Markets
US ISM Manufacturing PMI slipped to 54.6% in August, still expansionary but cooling
The Institute for Supply Management reported on 1 September 2026 that its Manufacturing PMI registered 54.6% in August, down one percentage point from July's 55.6% and missing the 55.3% consensus, marking the eighth consecutive month of expansion after a ten-month contraction stretch that ended in December 2025. The Prices Index held at 71.1%, raw-materials costs rose for a 23rd straight month on steel, aluminum, tariffs and Middle East-linked petroleum prices, while New Orders, Backlogs and Imports all lost ground and 22% of manufacturing GDP contracted versus 20% in July.