Markit Economics will publish its preliminary report on US manufacturing during July at 9:45 a.m. ET.
Economists forecast that the flash purchasing manager’s index strengthened to 51.5 from 51.3, according to Bloomberg. Above 50, the index indicates that the manufacturing sector remains in expansionary territory.
The final report for July put the index at a three-month high, and showed a renewed rise in production volumes and hiring.
But it also indicated that the overall pace of growth remained relatively slow.
“The lacklustre performance of the manufacturing economy adds to signs from the flash services PMI surveys that the underlying pace of economic growth in the second quarter remaind subued after a disappointing start to the year,” said Markit chief economist Chris Williamson.
More to come …
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