US Manufacturing PMI Slips to 54.6% in August

According to Ecoiran, the Institute for Supply Management's US Manufacturing PMI fell one percentage point from the prior month to 54.6 percent in August 2026, marking an eighth straight month of manufacturing expansion and a 22nd consecutive month of overall economic growth. The S&P Global manufacturing PMI held steady at 53.9 percent.

In the ISM survey, 42 percent of comments were positive and 58 percent negative; among negative comments, price volatility accounted for 57 percent, longer delivery times 46 percent, the Iran war 30 percent and tariffs 29 percent. The New Orders index fell 3 points to 53.7 percent and the Employment index fell 1.6 points to 51.2 percent, while the Prices index held at a high 71.1 percent.