Manufacturing activity in the U.S. slumped again in August, contracting for the third straight month.
The Institute for Supply Management reported Tuesday that its monthly index slipped to 49.6%.
Economists had been expecting the index to come in flat with a reading of 50, according to Briefing.com consensus.
That’s compared to an ISM index reading of 49.8 in July. The July number ending a 34-month-long growth streak.
Any reading below 50 represents contraction, while any reading above it represents growth.
