ISM Factory Index Drops for August

The Institute for Supply Management’s manufacturing index declined last month, ISM said Tuesday.

ISM’s August factory index fell to 52.9 from 53.9 in July, the group said. Readings above 50 indicate expansion.

Economists had predicted the index would fall to 53, Bloomberg reported.

The production index rose to 56.1 from 55.6, while new orders dropped to 55.3 from 57.5, ISM said.