US: Markit Manufacturing PMI Improves to 53.1 in August

The IHS Markit’s Manufacturing Purchasing Managers’ Index (PMI) for the US improved from 50.9 in July to 53.1 in August to show that the economic activity in the manufacturing sector continued to expand at a robust pace. This reading came in slightly weaker than the previous estimate and the market expectation of 53.6.

“The manufacturing upturn gained further ground in August, adding to indications that the third quarter should see a strong rebound in production from the steep decline suffered in the second quarter” Chris Williamson, Chief Business Economist at IHS Markit Noted