ISM Manufacturing Index Falls in August

September 1, 2006 10:00 AM, EDT

The Institute for Supply Management said Friday its manufacturing index dipped to 54.5 in August.

The index, which measures U.S. manufacturing activity, fell from a July reading of 54.7.

ISM indices are set where a reading of above 50 indicate growth and below 50 show contraction. The group said the August reading was the 39th month of growth.

The group’s prices paid index fell to 73 in August from 78.5 in July, and the new orders index fell to 54.2 in the month from 56.1 in July.