You are here

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.

REUTERS

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes