August exports and imports continue growth as manufacturing soars

September 4, 2018 – The newest survey from the Institute of Supply Management (ISM) depicts a strong August for new export orders, imports and manufacturing in the US.

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Exports registered 55.2, down a tick from July’s 55.3. Any number of 50.0 or above indicates growth. Imports slid a bit more registering a growth index of 53.9 in August, down from the previous month’s 54.7.

Manufacturing expanded in August as the ISM purchasing manager’s index (PMI) registered 61.3 percent, an increase of 3.2 percentage points from the July reading of 58.1 percent. According to ISM, this indicates strong growth in manufacturing for the 24th consecutive month, led by continued expansion in all sub-indexes that make up the PMI. The PMI reached its highest level since May 2004, when it registered 61.4 percent.

“What we’re seeing here is a robust manufacturing sector and strong export growth despite a strong dollar and international uncertainty,” said Fred Baehner, IBNewsmag™ publisher. “On the other hand imports may be feeling the effect of tariffs imposed by the US.”

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