US Markit Manufacturing PMI Edges Higher to 53.5

The business activity in the US manufacturing sector is seen expanding at a robust pace in September with the IHS Markit’s advanced Manufacturing PMI rising from 53.1 in August to 53.5. This reading came in better than the market expectation of 53.2.

Further details of the publication revealed that the Services PMI edged lower to 54.6 from 55 and missed experts’ forecast of 54.7. Finally, the Composite PMI declined to 54.4 from 54.6.