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    Analysis

    September 3, 2024

    ISM: Manufacturing down again in August

    Written by David Schollaert

    US manufacturing activity contracted for a fifth straight month in August, as reported in the latest release from the Institute for Supply Management (ISM). The Index has indicated contraction in the manufacturing sector for 21 of the last 22 months.

    The ISM Manufacturing PMI improved to 47.2% in August, up just 0.4 percentage points from July, and the lowest reading of the year. A reading above 50 indicates the manufacturing economy is growing, while a reading below 50 indicates contraction.

    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.

    Read more from David Schollaert

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