Afternoon Coffee: US Factory Activity Slows in August, China’s Manufacturing Industry Sees Worst Slump in 3 Years Kaitlyn McAvoy - September 1, 2015 12:13 PM | Categories: Afternoon Coffee | Tags: General News US factory activity fell in August, reaching a low not seen in more than 2 years. The Institute for Supply Management national factory index hit 51.1 last month due to a rising dollar, falling global demand and energy sector spending cuts. Chinese manufacturing activity also took a hit in August amid declining economic conditions. The country’s official manufacturing purchasing-managers index dropped to 49.7 in August, a 3-year low. A reading of 50 or above marks expansion in the industry. Back in the US, construction industry activity continues to climb. Construction spending in July increased 0.7%, more than expected. Residential construction spending specifically rose 1.1%. US auto sales unexpectedly grew in August. Ford, for example, saw sales increase 5% last month and Fiat sales rose 2%. Overall, indicated sales of about 17.5 million cars on an annualized basis were reported, more than the 17.3 million expected. SIGN UP for the Spend Matters newsletter Dirty Rotten Spendrels Discuss this: Cancel reply Your email address will not be published. Required fields are marked *Comment Name * Email * Website Notify me of follow-up comments by email. Notify me of new posts by email.