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(AMM) Manufacturing PMI registers 0.8% gain in August

September 01, 2010 - 22:34 GMT Location: CHICAGO

KEYWORDS: purchasing managers , PMI , Institute for Supply Management , ISM

The national purchasing managers index (PMI) increased 0.8 percent in August, a small bright spot amid dismal jobs-related data that dimmed the second-half outlook for some economists.

The national purchasing managers index (PMI) increased 0.8 percent in August, a small bright spot amid dismal jobs-related data that dimmed the second-half outlook for some economists.

The PMI for most of subindexes logged higher readings during the month, including production, inventories, prices and employment, according to the Institute for Supply Management (ISM).

"Manufacturing activity continued at a very positive rate in August," according to Norbert J. Ore, who chairs the ISM's manufacturing survey committee. "In terms of month-over-month improvement, the production and employment indexes experienced the greatest gains, while new orders continued to grow but at a slightly slower rate."

The manufacturing PMI landed at 56.3 percent in August compared with 55.5 percent in July. Economic activity in the manufacturing sector expanded for the 13th consecutive...

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