The index measuring activity in the sector gained 1.3 points to 47.6% from 46.4% in the previous month. But a figure below 50% indicates a contraction.
Manufacturing activity in the United States contracted in August for the tenth consecutive month, although less than expected and below the July statistic, according to data released Friday by the ISM professional federation.
The index measuring activity in the sector gained 1.3 points to 47.6% from 46.4% in the previous month. But a figure below 50% indicates a contraction.
“The manufacturing sector fell back again, but the advance in the index indicates that the contraction is slowing,” Timothy Fiore, head of the survey, was quoted as saying in a statement.
Manufacturing activity in Philadelphia, a highly industrialized region of the United States, posted its first small increase in August after 10 months of decline.
However, manufacturers are extremely cautious for future months.
The overall index measuring manufacturing activity in this region rose to 12 points in August, returning to positive territory after falling to -13.5 points in July, according to the monthly survey released Thursday by the regional branch of the Federal Reserve (Fed).
The survey was conducted among industrialists in the region between August 7 and 14.
Manufacturing activity in the highly industrialized New York region is coming off an unprecedented decline in the country’s history after July’s figures were released.
Analysts had expected a more pronounced deterioration.
The index that measures activity in that region of reference in the United States fell 6 points from June to 1.1 points, according to the monthly Empire State survey, published Monday by the New York branch of the Federal Reserve (Fed, central bank) and conducted among industrialists in the region.