by Calculated Risk on 9/01/2020 10:04:00 AM

The ISM manufacturing index indicated expansion in August. The PMI was at 56.0% in August, up from 54.2% in July. The employment index was at 46.3%, up from 44.3% last month, and the new orders index was at 67.6%, up from 61.5%.

From ISM: PMI® at 56.0%; August 2020 Manufacturing ISM® Report On Business®

This was above expectations of 54.5%, but the employment index indicated further contraction.

This suggests manufacturing expanded at a faster pace in August than in July.