ISM Manufacturing PMI Slows to 54.6 in August as New Orders and Backlogs Drop
IXIC sits 26% above its 52-week low of $20,690.249.
Summary
The ISM Manufacturing PMI fell to 54.6 in August from 55.6 in July, missing expectations and signaling a slowdown in the manufacturing sector. New orders dropped 3.0 points to 53.7, backlog orders fell 3.2 points to 51.8, and employment declined 1.6 points to 51.2. Supplier deliveries rose to 59.3, indicating slower supply chains, while the prices index remained elevated at 71.1. The report cites persistent inflation, trade war uncertainty, and AI-driven chip shortages as key drags. This data adds to concerns about economic momentum and could pressure the Nasdaq, which is already trading near its 52-week high.
At the time of this announcement, IXIC was trading at $26,071.41 on NASDAQ in the Manufacturing sector. The 52-week trading range was $20,690.25 to $27,190.21. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Mace News.