Markit’s flash U.S. manufacturing PMI report is out.
The headline index rose to 53.9 from last month’s 53.7 reading, below analysts’ estimates for a bigger gain to 54.2.
Nonetheless, the increase in the index signals the pace of expansion in American manufacturing is accelerating in August.
The output sub-index fell to 53.4 from last month’s 54.8 reading, but the new orders sub-index increased to 56.5 from 55.5.
The employment sub-index also ticked up to 53.2 from 52.0.
The table at right shows a full breakdown of the sub-indices.