US PMI Misses Expectations

US PMI fell to 53.1 in August.

Analysts expected a reading of 54.0, against 53.7 prior.

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“The PMI was

consistent with a moderate improvement in overall

manufacturing business conditions,” Markit said.

Employment, output, and new orders all ticked higher.

Deutsche Bank is out with a note today saying they expect U.S. PMI to accelerate. They revised their GDP forecast up to 2.5% from 1.7%.

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