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'411 Manufacturing <br />60 <br />58 <br />56 <br />54 <br />52 <br />50 <br />48 <br />46 <br />Institute of Supply Management Purchasing <br />Manager Index <br />Expanding <br />Contracting <br />149. <br />76' <br />��k4'6 <br />76' <br />76 <br />�dy 'l49. <br />76, 76 <br />�o� <br />76 <br />@5 <br />7� <br />41dk <br />7� <br />-149, <br />Source: Institute for Supply Management <br />80.0% <br />79.0% <br />78.0% <br />77.0% <br />76.0% <br />75.0% <br />74.0% <br />Capacity Utilization <br />O0f ✓dam ypr ✓e.i, Ocf ✓dh 9pr `e.,/ <br />7S 76 76 76 76 76, <br />Source: Federal Reserve <br />The Institute for Supply Management (ISM) manufacturing index increased to 58.8 in August from 56.3 in July. A reading above 50.0 <br />suggests the manufacturing sector is expanding. Meanwhile, capacity utilization, which is production divided by capacity, increased to <br />76.7% in July from 76.6% in June. The capacity utilization rate remains below the long -run average of 79.9% (1972-2016), suggesting <br />there is still excess capacity in the industrial sector. <br />