Manufacturing sales of $80B in August rose 1.5% sequentially, led by the primary metal (up 14%) and chemical (up 4%) subsectors…

… which offset weakness in transportation equipment (down 3%) and drove a rebound after last month’s decline. The trend continues in inventory, which moved higher for the eighth consecutive print…

… on a 3% bump in fabricated metals reserves that should dissipate, given unfilled orders in the category rose 4%.

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