Markit's final manufacturing PMI at 53.7 in July

Markit's final manufacturing PMI at 53.7 in July

The final reading of the Markit manufacturing purchasing managers index was 53.7 in July, better than the flash reading of 53.2 and up from a reading of 51.9 in June. This is the fastest rate of growth since March. Output expanded to 54.8 in July from 53.5 in the prior month. The employment gauge moved into expansion territory at 53.0 from 49.9 in the prior month. The similarly constructed Institute for Supply Management's manufacturing index for July, due at 10 a.m., is expected to improve to a reading of 52.0% from 50.9% in June. Earlier Thursday, there was upbeat manufacturing data from Europe and China. The euro zone's manufacturing sector index rose to 50.3 in July from 48.8 in June, putting it above the 50 index that separates growth from contraction for the first time since July 2011. China's official manufacturing Purchasing Managers' Index unexpectedly rose to 50.3 in July from 50.1 in June.