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    September 8, 2022

    Manufacturing Conditions Tighten, Growth Slows: PMI

    Written by David Schollaert

    The S&P Global US manufacturing PMI – another measure of manufacturing – slipped to 51.5 in August, contracting for a second straight month and its lowest level in two years, as output and new sales fell further last month.

    August’s results are down slightly from 52.2 in July, broadly in line with the earlier released ‘flash’ estimate of 51.3. The headline index reading was the lowest since July 2020, with the latest data indicating subdued overall health conditions across the US manufacturing sector.

    David Schollaert

    David Schollaert is deputy editor-in-chief for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. He can be contacted at david@steelmarketupdate.com or 724-720-1008.

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