US: Markit Manufacturing PMI comes in at 50.3 in August (final) vs. 49.9 expected
The IHS Markit's Manufacturing PMI (final) in August ticked down to 50.3 in August from 50.4 in July but came in better than the previous estimate and the market expectation of 49.9. The US Dollar Index largely ignored the data and was last up 0.24% on the day at 99.28.
Commenting on the data, "The August PMI indicates that US manufacturers are enduring a torrid summer, with the main survey gauge down to its lowest since the depths of the financial crisis in 2009," said Chris Williamson, Chief Business Economist at IHS Markit.
"Output and order book indices are both among the lowest seen for a decade, indicating that manufacturing is likely to have again acted as a significant drag on the economy in the third quarter, dampening GDP growth."
Author
Eren Sengezer
FXStreet
As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.
