[U.S. manufacturing growth slows but remains close to four-year high] September 1st: U.S. manufacturing activity expanded for the eighth consecutive month in August, but new orders and employment growth slowed, indicating that factory demand has cooled. Data released by the Institute for Supply Management (ISM) on Tuesday showed that the manufacturing index fell 1 point to 54.6 in August, but it was still the second highest level since 2022. An index above 50 indicates that the industry is expanding. Production indicators recorded their second-highest level since the end of 2021. A gauge of new orders fell to its lowest level since March but remained in expansion territory. Factory employment increased for the second straight month, although at a slower pace. A total of 15 manufacturing industries reported growth in August, including primary metals, electrical equipment and home appliances. The wood products and chemical products industries contracted. Since 2026, the momentum of the U.S. manufacturing industry has increased, reversing the downturn that lasted for several years. Factories benefited from resilient consumer demand, solid business investment and increased government defense spending. However, manufacturers also face a series of challenges, including renewed tariff threats, higher energy prices driven by war, and supply chain disruptions.