The economic activity in the US' manufacturing sector expanded at a stronger pace in August than it did in July with the ISM's Manufacturing Purchasing Managers' Index (PMI) climbing from 54.2 in July to 56. This reading marked the highest print since January 2019 and came in better than the market expectation of 54.5.
Further details of the publication revealed that the Prices Paid Index rose to 59.5 from 53.2, the New Orders Index advanced to 67.6 from 61.5 and the Employment Index improved to 46.4 from 44.3.
Market reaction
The US Dollar Index edged slightly higher after this report and turned flat on the day at 92.15.
- ISM Manufacturing PMI rose from 54.2 to 56 in August.
- US Dollar Index turned flat on the day above 92.00 after the data.
Source Fxstreet