US Manufacturing ctiity ose in ugust as Ne rders Increased

    JN Fund Managers
    JN Fund Managers

    The United States (US) manufacturing sector rose during the month of August as demand increased. The Institute for Supply Management (ISM) reported that the manufacturing activity index, which is generally a good indication of broader US employment trends and expansion, rose from 58.1 in July to 61.3 in August to the highest level since May 2004. The rise in the index was attributable to sixteen (16) of the eighteen (18) sectors which make up the index showing growth. The growth in the 16 sectors were primarily a result of an increase in new orders which moved from 60.2 in July to 65.1 in August. Despite this, it is possible that ongoing trade disputes between the US and its main trading partners could lead to higher producer prices, potentially limiting further growth in the sector in the short-term.

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