US: Markit Manufacturing PMI Improves to 53.6

The business activity in the US manufacturing sector is seen expanding at a robust pace in August with the IHS Markit’s advanced Manufacturing PMI rising from 50.9 in July to 53.6. This reading came in better than the market expectation of 51.9.

Further details of the publication revealed that the Services PMI advanced to 54.8 from 50 and beat experts’ forecast of 51. Finally, the Composite PMI climbed to 54.7 from 50.3.