August 30, 2019/Cowry Asset

Freshly released Purchasing Managers’ Index (PMI) survey report for August 2019 showed faster expansions in both the manufacturing and non-manufacturing businesses despite the slower new order and new businesses indices.

According to the survey, the manufacturing composite PMI expanded to 57.9 index points in August 2019 (from 57.6 in July 2019), the twenty ninth consecutive expansion.

Despite the increase in manufacturing composite PMI, new orders expanded slower to 57.1 in August 2019 (from 57.2 in June 2019) and forced producers to reduce their production – output production level index fell to 58.7 (from 58.9) –, as sales slowed amid lower consumer disposable income.

Click here to read full PDF copy of report