USA's Industry Loses Momentum

» Updated: September 07 2024

» Published: September 03 2024

USA's Industry Loses Momentum
Photo: Pontus Lundahl/TT

American manufacturing industry is doing slightly worse than expected.

The Purchasing Managers' Index, a business cycle indicator, for the industry fell slightly in August, to 47.9 compared to 48.0 in July, according to S&P Global.

The average forecast among economists was 48.1.

The development in the industry is one factor among several that can determine whether and how much the American central bank will lower the interest rate.

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By TTTranslated and adapted by Sweden Herald
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