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US upper Midwest factory activity contracts in August
[MILWAUKEE] A measure of factory activity in the US upper Midwest region contracted for a fifth straight month in August but improved from July's pace, Marquette University and the Institute for Supply Management-Milwaukee said on Monday.
Their index on manufacturing in the Milwaukee region ticked up to 47.67 in August from 47.12 in July.
A reading below 50 means regional manufacturing activity is contracting.
Components on new orders, production and employment were stuck below the 50 threshold in August.
"Orders have slowed from a few months ago in response to lack of demand," Marquette University and the Institute for Supply Management-Milwaukee said in their latest survey, based on replies from respondents.
The survey's six-month business outlook improved to 65.4 per cent in August from 57.1 per cent in July.