The U.S. S&P Global Manufacturing PMI fell to 53.2 in August from the previous month, missing the 53.9 forecast and signaling that factory activity continued to expand at a slower-than-expected pace. The Purchasing Managers’ Index (PMI), a survey-based measure of manufacturing conditions, indicates expansion above 50 and contraction below 50. The weaker reading may reflect headwinds including softer demand, supply-chain disruptions or higher input costs, and could add to signs of broader economic cooling that may influence Federal Reserve policy decisions. Financial markets reacted mutedly as investors assessed the data alongside other economic indicators. The result reinforces a mixed picture of resilience and vulnerability in U.S. manufacturing, with potential implications for business inventories, investment, consumer product availability, pricing and employment.