U.S. IHS flash manufacturing PMI index falls in August

The seasonally adjusted IHS Flash U.S. Manufacturing PMI index dropped in the month of August to 54.4 from 55.3 in July. It is the lowest reading since November 2017.

The latest data indicated towards slower rates of output and new business growth at manufacturing firms. Job creation and capacity pressures also eased in August. In the meantime, manufacturers continued to show a sharp lengthening of suppliers’ delivery times, which survey respondents attributed to broad based truck driver shortages.

Stretched supply chains, import tariffs on metals, and a corresponding rise in demand for domestically sourced items added to greater input costs in August. However, the overall pace of input price inflation alleviated further from the seven-year peak witnessed in April. Latest data also indicated towards to the least marked rise in factory gate charges for five months.

At 18:00 GMT the FxWirePro's Hourly Strength Index of US Dollar was slightly bullish at 58.9703. For more details on FxWirePro's Currency Strength Index, visit http://www.fxwirepro.com/currencyindex