FX & CFD trading involves significant risk
Markit Economics released its final manufacturing purchasing managers' index (PMI) for the U.S. on Tuesday. The U.S. final manufacturing purchasing managers' index (PMI) decreased to 53.0 in August from 53.8 in July, up from the previous estimate of 52.9.
A reading above 50 indicates expansion in economic activity.
The decline was driven by the slower growth in output, new orders and employment.
New export work fell in August.
"August's survey highlights that the U.S. manufacturing sector continues to struggle under the weight of the strong dollar and heightened global economic uncertainty, but resilient domestic spending and subdued cost pressures are keeping the recovery on track. Reflecting this, new orders from abroad have now fallen in four of the past five months, which represents the weakest phase of manufacturing export performance since late-2012," Markit's Senior Economist Tim Moore said.
All posted material is a marketing communication solely for informational purposes and reliance on this may lead to loss. Past performance is not a reliable indicator of future results. Please read our full disclaimer.