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ISM Reports Growth In August

September 7, 2022 by Paul Myers, Myers Capital Management

Recently the Institute of Supply Management released their findings on the growth of the US manufacturing and service sectors for the month of August.   

ISM reported that both the manufacturing and service sectors of the US economy continued to expand in August.  Manufacturing business rate of expansion remained the same as it was in July while the service sectors rate of expansion increased slightly.

As you look the chart above showing the year to date data, you can see the rate of growth has slowed up as the increase of interest rates by the Fed have their impact of businesses. Numbers over 50 show growth, so we are really not in a recession at this point.

However, unless inflation tapers off enough for the Fed to slow and eventually stop the increasing of interest rates, we are likely to see these figures dip under 50 into contraction at some point. But as August’s numbers show, we are not there at this time.

Filed Under: Myers Cap Post

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The Myers Cap Post

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Myers Capital Management, Inc. (“MCMI”) is a registered investment adviser located in Abington, PA. MCMI’s website is limited to disseminating general information about its advisory services and access to additional investment-related information, publications, and links. Accordingly, the publication of MCMI’s website on the Internet should not be construed by any consumer or prospective client as MCMI’s general solicitation to effect or attempt to effect transactions in securities or the rendering of personalized investment advice for compensation. We do not collect personally identifiable information about you when you visit our website unless you voluntarily provide it by sending us an email or other electronic communication(s). If you choose to share with us personal information, we will retain it in our electronic communications archive. Any subsequent, direct communication by MCMI with a prospective client shall be conducted by a representative that is either registered or qualifies for an exemption or exclusion from registration in the state where the prospective client resides. MCMI does not take any responsibility, representations, or warranties regarding the accuracy, timeliness, suitability, completeness, or relevance of any information prepared by any unaffiliated third party, including website links. All such information is provided solely for convenience, guidance, and informational purposes only, and all users should be guided accordingly. Investments involve risk and, unless otherwise stated, are not guaranteed. This website and information are not intended to provide investment, tax, or legal advice and no warranties are implied. Before implementing any strategy, consult with a qualified financial adviser and/or tax professional. Insurance products and services are offered and sold through Myers Capital Management, Inc., and individually licensed and appointed insurance agents. For information about MCMI, please refer to the SEC’s investment adviser public information website at www.adviserinfo.sec.gov or upon written request from Myers Capital Management, Inc. No product or service is offered or will be sold in any jurisdiction in which such offer or solicitation, purchase, or sale would be unlawful under the securities laws of such jurisdiction. This web site is intended to be made available only to individuals in the United States, and the information on the web site is only for such persons. • Copyright Myers Capital Management, Inc.
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