“August data indicated a strong overall improvement in the health of the U.S. manufacturing sector,” IHS Markit reported on Tuesday.
Key quotes
- The upturn was supported by further rises in output and new orders, and a renewed increase in export sales.
- That said, production rose at the weakest rate for almost a year.
- The seasonally adjusted IHS Markit final U.S. Manufacturing Purchasing Managers’ Index (PMI) registered 54.7 in August, down from 55.3 in July.
- Rates of employment and backlog growth remained solid.
- Average charges rose strongly, with respondents reportedly partly passing higher costs on to clients in order to protect profit margins.
- Finally, expectations towards output over the coming 12 months improved.
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