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US Aug manufacturing grows at slowest pace in two years

by ChemOrbis Editorial Team -
  • 02/09/2015 (11:18)
According to data from the Institute for Supply Management (ISM), manufacturing activities in the US expanded at the slowest pace seen since May 2013 in August. ISM’s US manufacturing index fell to a reading of 51.5% in August from July’s reading of 52.7%. Any reading above 50 represents an expansion.

The slowdown was attributed to a stronger dollar and weak external demand stemming from slowing global economies. The appreciation the US dollar against most other currencies has hampered the competitiveness of US goods in global markets. The index showed that new orders also posted their lowest levels seen in two years in August while exports remained to below the 50% threshold dividing expansion from contraction for the sixth time in the past eight months.
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