Oh dear, the US economy really isn’t following the script:
The Institute for Supply Management’s gauge of manufacturing unexpectedly rose to 56.3 in August from 55.5 a month earlier, the Tempe, Arizona-based group said today. Readings greater than 50 signal growth.
Economists forecast the ISM factory index would decline to 52.8, according to the median of 78 projections in a Bloomberg News survey. Estimates ranged from 49.9 to 56.
Separate figures today showed manufacturing in other parts of the world was mixed in August. China’s purchasing managers’ index rose to 51.7 last month from 51.2, a government-backed report showed. A measure released by HSBC Holdings Plc and Markit Economics also increased.
Growth at Europe’s factories cooled and export demand dropped to the lowest in seven months
Better cancel that Anderson shelter I’ve got on order.
(Source: Bloomberg)
