Business Activity Increases, IHS Markit Flash Survey Reading Shows
24 September 2019 - 12:44AM
Dow Jones News
By Patrick Thomas
Business activity in the private-sector increased this month,
with the rate of expansion slightly faster than the three
and-a-half year low reported during August, according to results
from IHS Markit data.
The September flash reading for the IHS Markit U.S. Composite
PMI Output Index was 51, up from 50.7 in August.
The flash reading for IHS Markit's U.S. Manufacturing PMI -- one
of the indexes that goes into the composite reading -- was 51. It
rose from 50.3 in August, IHS Markit said.
IHS Markit said the latest reading was still much softer than
the 55 10-year average.
"The latest survey revealed modest rises in both service sector
activity and manufacturing production," IHS Markit said in its
report.
The flash reading for the U.S. Services PMI Business Activity
Index was 50.9, up from 50.7.
"The survey indicates that businesses continue to struggle
against the headwinds of trade worries and elevated uncertainty
about the outlook," IHS Chief Business Economist Chris Williamson
said in prepared remarks. "Although picking up slightly, the
overall rate of growth in September remained among the weakest
since 2016."
Write to Patrick Thomas at patrick.thomas@wsj.com
(END) Dow Jones Newswires
September 23, 2019 10:29 ET (14:29 GMT)
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