Services PMI also lower

The Markit PMI data for August shows:

  • manufacturing PMI for August luminary 49.9 versus 50.5 estimate. Prior month 50.4
  • services PMI for August the 50.9 versus 52.8 estimates. Last 53.0
  • composite PMI index 50.9 versus 52.6 last month

Other details:

  • Markit says PMI from manufacturing and services are much weaker and project analyze GDP growth of 1.5%
  • manufacturing PMI below 50 for the first time since September 2009
  • manufacturing output index for August 50.6 versus July 50.5
  • new orders index for August 49.5 versus 51.7 last month
  • services sector new business index for August 51.1 versus July's 54.1
  • services new business index lowest since March 2016
  • composite PMI for August at 50.9 versus final July 52.6
  • composite new orders index for August at 50.8 versus July's 53.7
  • composite new orders lowest since series began in October 2009