- U.S. factories and service providers reported sharply slower growth in August, according to IHS Markit in its surveys of purchasing managers.
- The Composite Purchasing Managers Index (PMI) captures business conditions in the manufacturing and service sectors.
- A reading above 50 suggests the economy is growing.
- Composite PMI fell to 55.4, down from 59.9 in July and at an 8 month low.
- Services PMI fell to 55.2, down from 59.9 in July and at an 8 month low.
- Manufacturing PMI fell to 61.2, down from 63.4 in July and at a 4 month low.
- Manufacturing Output PMI fell to 56.3, down from 59.7 in July and at a 5 month low.
- The Right Facts will continue to monitor PMI.