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“The headline seasonally adjusted IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index registered 54.5 in August, down from 55.3 in July and the lowest reading since November 2017,” IHS Markit announced on Thursday.

Key takeaways from the official publication

  • Mirroring the trends seen across the service sector, latest data pointed to slower rates of output and new business growth at manufacturing companies.
  • Job creation and capacity pressures also moderated in August.
  • Stretched supply chains, import tariffs on metals, and a corresponding rise in demand for domestically sourced items contributed to greater input costs during August.
    • Nonetheless, the overall rate of input price inflation eased further from the seven-year peak seen in April.