The US manufacturing sector saw a slight improvement in August, with the ISM’s manufacturing PMI coming in at 48.7, indicating a sixth straight month of contraction. New orders index rose to 51.4, but production index fell to 47.8. Respondents cited tariffs as putting pressure on planning, sales, and costs.

Despite these challenges, S&P Global’s US manufacturing PMI showed a strong increase to 53, above July’s 49.8. However, the report noted that tariffs continue to hinder manufacturing, with factory inventories rising due to concerns over price hikes and supply constraints. Tariffs have led to layoffs and price increases to offset costs, impacting margins and workforce stability.

Read more at Yahoo Finance: US manufacturing activity contracts for sixth straight month in August: ‘It’s survival’