Economic activity in the U.S. manufacturing sector remained strong in August, as the latest Institute for Supply Management report on business inched lower to 54.5% from 54.7% in July.

August represents the 39th consecutive month of growth, say U.S. supply executives, while the overall U.S. economy grew for the 58th consecutive month.

“Manufacturing growth continued at a very strong pace in August. Though the rate of growth was slightly under that of July, the sector continues to enjoy strength in new orders and production. In August we also saw an uptick in manufacturing employment,” says Norbert J. Ore, chair of the ISM’s manufacturing business survey committee, who issued the report on Friday.

“The major concerns in manufacturing at this point are the continued upward pricing pressure that has existed for the past 13 months, and some industries are experiencing a degree of inventory buildup,” he added.

The nine industries reporting growth in August — listed in order — are: electrical equipment, appliances and components; fabricated metal products; miscellaneous manufacturing; chemical products; computer and electronic products; primary metals; food, beverage and tobacco products; furniture and related products; and paper products.