US MANUFACTURING JUMPS TO HIGHEST LEVEL SINCE APRIL 2010

Markit Economics’ manufacturing survey for August came in at 57.9.

That’s up from 55.8 in July, and the highest level since April 2010. Consensus was for a reading of 58.0. The “flash” reading from earlier in August was also 58.0.

Manufacturing payrolls increased at the steepest pace since March 2013, and export sales climbed at the fastest rate in three years.

“…The manufacturing sector continues to have a positive impact on overall labour market conditions,” Markit senior economist Tim Moore said. “Improving domestic economic fundamentals remain the key engine of growth. However, there were finally signs of external demand gaining traction in August, despite weakness across the euro area.”

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