Surprise: ISM Manufacturing Report Declines By Young Research - September 1, 2016 The ISM Report on Manufacturing recorded a surprise decline in August.ย Any index value below 50 indicates a decline in manufacturing, and this month’s reading was the first decline since February. Share this: Click to email a link to a friend (Opens in new window) Email Click to share on X (Opens in new window) X Click to share on Facebook (Opens in new window) Facebook