PMI down again in August. The Purchasing Managers Index dipped 0.2 percentage points in August, landing at 49.8 points. This reading indicates that the manufacturing sector contracted for the third consecutive month and is still in negative territory. Bradley Holcomb, chair of the Institute for Supply Management Manufacturing Business Survey Committee, said a press release announcing the August data that it's also the lowest reading for the PMI since July 2009.
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