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Economy

Economic Data (USA)

Tuesday, September 02, 2008

ISM Manufacturing Index for August 2008

Earlier today, the Institute for Supply Management (ISM) released their Purchasing Manager's Index (PMI) for August 2008:

Predicted: 49.9%
Actual: 49.9%

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country that are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: when the PMI is above 50%, U.S. manufacturing is expanding; when it's below 50%, the manufacturing sector is contracting.

The "predicted" figure is what economists and Wall Street forecasters were expecting, while the "actual" is the true or real figure.

Last month, the PMI was 50.0% (revised.)

Click here to view the complete ISM report.

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