According to the latest Manufacturing ISM Report On Business®, August showed contractions over previous months in two of the most important metrics in manufacturing – new orders and production. August PMI remained relatively flat at 50.3 and was the lowest of any of the previous 12 months. According to the Institute for Supply Management, a reading above 50 percent indicates that the manufacturing economy is generally expanding; below 50 percent indicates that it is generally contracting. Growth in the manufacturing sector continued to grow overall. Read the latest report.