US PMI composite falls to 54.1, still points to over 2% annualized GDP growth in Q3

In August, US PMI Manufacturing dropped to 48.0, the lowest in eight months, down from 49.6 in July. In contrast, PMI Services index showed a slight increase, rising from 55.0 to 55.2. PMI Composite index also declined, falling from 54.3 to 54.1, a four-month low. Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, […]

The post US PMI composite falls to 54.1, still points to over 2% annualized GDP growth in Q3 appeared first on Action Forex.