Manufacturing index increases in August   

The Institute of Supply Management reported that the Purchasing Managers' Index (PMI) increased from 55.5 in July to 56.3 in August. This represents 13 consecutive months of growth and an increase after three straight months of small declines and an expected decline in August. A PMI over 50 indicates growth while a PMI under 50 indicates contraction in the manufacturing sector of the economy. The index reached a low of 32.5 in December but then recovered more quickly than other areas of the economy and remains one of the brighter spots in the economy today. The blue bars in the graph represent recessions