U.S. flash PMI at lowest since December 2010
U.S. manufacturing growth slowed to the lowest level in July since
December 2010, according to the flash Markit manufacturing purchasing
managers index released Tuesday. The gauge fell to 51.8 from 52.5 in
July, marking the second-lowest rate since the recovery. PMI readings
above 50 signal an increase in activity, while readings below 50 signal a
decrease. The flash PMI is based on approximately 85%-90% of total PMI
survey responses each month, and the index is similar to the Institute
for Supply Management's manufacturing index, which last month fell into
contraction territory.
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