U.S. manufacturing activity dipped in August amid sluggish orders, according to the Institute for Supply Management. The Institute's reading for U.S. manufacturers fell to 49.9 from 50 in July. A reading below 50 signals contraction. In addition, the group's inflation index hit a six-month low.
Readings for new orders, the backlog of orders, inventories, and employment all signaled contraction in the sector while readings for exports and production showed expansion.
to Daily News