Manufacturing, Service 'flash' PMI Readings Split Direction In August

The service and manufacturing sectors went in different directions in August, according to data released Wednesday. The IHS Markit flash manufacturing purchasing managers index fell to a two-month low of 52.5 from 53.3 in July, while the services PMI rose to a 28-month high of 56.9, up from 54.7 in July. Any reading above 50 indicates improving conditions. The flash responses are based on about 85% to 90% of total PMI survey responses each month.

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