US: Markit Manufacturing PMI edges higher to 53.5 in September vs. 53.2 expected
- Markit Manufacturing PMI is US rose slightly more than expected in September.
- US Dollar Index stays in the positive territory above 94.00.
The business activity in the US manufacturing sector is seen expanding at a robust pace in September with the IHS Markit's advanced Manufacturing PMI rising from 53.1 in August to 53.5. This reading came in slightly better than the market expectation of 53.2.
Further details of the publication revealed that the Services PMI edged lower to 54.6 from 55 and missed experts' forecast of 54.7. Finally, the Composite PMI declined to 54.4 from 54.6.
Commenting on the data, “US businesses reported a solid end to the third quarter, with demand growing at a steepening rate to fuel a further recovery of output and employment," said Chris Williamson, chief business economist at IHS Markit.
“The survey data therefore add to signs that the economy will have enjoyed a solid rebound in the third quarter after the second quarter slump."
Market reaction
The US Dollar Index largely ignored this report and was last seen gaining 0.16% on the day at 94.13.
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.
