The Institute for Supply Management released a report on Tuesday showing a slight increase by its reading on U.S. manufacturing activity in the month of August, although the index still indicated the sixth consecutive month of contraction.
While the ISM said its manufacturing PMI inched up to 48.7 in August after falling to a nine-month low of 48.0 in July, a reading below 50 still indicates contraction. The uptick matched economist estimates.
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