Manufacturers are getting frustrated: ‘The economy is annoying'

Inflation is starting to frustrate U.S. manufacturers, and there are warning signs that price pressures will lead to slower activity in coming months after high readings this summer, according to the closely followed survey of manufacturers conducted by the Institute for Supply Management.

The headline ISM gauge of manufacturers sentiment, released Tuesday, dropped to 54.6% in August, from 55.6% in the prior month. That’s the second-highest level in four years, and the eighth straight month that the index has been above the 50% threshold.