Manufacturing activity in the US remains strong.
Markit’s flash reading on manufacturing PMI for September came in at 57.9.
This reading is in-line with expectations, which were for 58.0, up slightly from 57.9 last month.
In a release, Markit said, “At 57.9 in September, the seasonally adjusted Markit Flash U.S. Manufacturing Purchasing Managers’ Index remained well above the neutral 50.0 value, to indicate a robust improvement in overall operating conditions across the manufacturing sector. Moreover, the headline Manufacturing PMI index — which is designed to signal changes in prevailing business conditions in the U.S. manufacturing sector — held at the same level as August’s 52-month high.”
Markit’s chief economist Chris Williamson said, “The flash PMI signaled another month of impressive growth of the US manufacturing economy. The third quarter as a whole has seen the strongest expansion since the sector began to recover from the financial crisis.”
This chart from Markit shows the last several years of PMI readings.