The S&P Global US Manufacturing PMI eased to 53.2 in August 2026 from 53.9 previously, falling short of market expectations for an unchanged reading of 53.9, according to the preliminary estimate. The latest figure signals a moderation in manufacturing activity, with growth slowing to its weakest pace since March. This softer performance was partly driven by higher fuel costs, slower inventory accumulation, and raw material shortages associated with supply delays.
Output growth decelerated for a third consecutive month, reaching its weakest rate since July of the previous year. New orders proved more resilient but still lost momentum, expanding at their slowest pace since March. Input purchases declined for the first time since February, exerting downward pressure on the headline PMI, while an extension in supplier delivery times continued to lend support, despite a slight easing in overall delays. Employment also made a positive contribution, as factory payrolls rose modestly at the fastest rate since May.
