ISM MANUFACTURING PMI 54.6 IN AUGUST, MISSES CONSENSUS
- Manufacturing PMI: 54.6 vs 55.2 est, miss, from 55.6 in July
- Prices paid: 71.1 vs 70.5 est, above consensus, unchanged from July
- Employment: 51.2 vs 53.0 est, miss, from 52.8
- New orders: 53.7, from 56.7
- Supplier deliveries: 59.3, from 58.9, with readings above 50 indicating slower deliveries
Growth slowing, input prices stuck.
July's 55.6 was the highest reading since May 2022. Markets are pricing a roughly 70% chance of a 25bp hike at the September 15-16 FOMC meeting, per CME FedWatch.