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US Manufacturing PMI eases to 22-month low in August
August data highlighted a slight loss of momentum across the manufacturing sector. Output, new business and employment all expanded again, but at slower rates than one month previously. The latest survey also pointed to tighter inventory policies, with finished goods stocks falling for the first time in 2015 so far. Backlogs of work rose at a marginal pace that was the slowest for three months, suggesting a continued lack of pressure on operating capacity. The final seasonally adjusted Markit U.S. Manufacturing Purchasing Managers’ Index™ (PMI™) posted 53.0 in August (earlier ‘flash’ reading was 52.9), ... (full story)