Summary
- The US August manufacturing PMI 53.9 topped the market forecast of 53.2.
- The August manufacturing PMI was unchanged from the previous month's 53.9.
- The manufacturing PMI remained well above the 50 threshold, extending the sector's expansion.
Forecast Trend Report by Period
US manufacturing activity in August was stronger than markets had expected.
The US manufacturing Purchasing Managers' Index, or PMI, came in at 53.9 in data released on September 1. That beat the market forecast of 53.2 and matched the previous month's reading of 53.9.
A PMI reading above 50 signals expansion in the manufacturing sector, while a reading below 50 indicates contraction. With the latest figure comfortably above 50, US manufacturing remained in expansion territory.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.