PMI Rebounds with Mark of 47.2%

August Index Points to Recovery

The Purchasing Managers' Index (PMI) has risen to 47.2%, indicating a rebound in manufacturing activity after four consecutive months of decline. The Institute for Supply Management (ISM), which conducted the survey, reports that the increase in activity was driven by new orders and production. This positive news suggests that the manufacturing sector is beginning to recover from the challenges posed by the COVID-19 pandemic.