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<p>The ISM Manufacturing Index moved higher to a reading of 59.9% in August to remain near one of the highest levels of the past two decades (top graph). &nbsp;Manufacturers reported that demand remained strong as their customers are still attempting to refill their depleted inventories (bottom graph). &nbsp;While this leading manufacturing gauge remains on solid footing, this supply/demand imbalance is likely to cause shortages and rising prices to persist.</p>
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