US composite PMI rises to 49.3 in September, highest in 3 months

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The U.S. composite purchasing managers’ index (PMI), which encompasses both manufacturing and services, rose from 44.6 in August to 49.3 in September, hitting a three-month high, according to preliminary data released this Friday (23) by S&P Global.

Although it remained below the 50 barrier that signals contraction, the indicator shows that activity in the world’s largest economy is shrinking at a more contained pace this month.

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Only the US services PMI advanced from 43.7 to 49.2 in the same period, also reaching the highest level in 3 months and surpassing the expectations of analysts consulted by the The Wall Street Journalwhich predicted a much smaller rise at 45.3.

The US industrial PMI increased from 51.5 in August to 51.8 in September. In this case, the market consensus was down to 51.2.

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Source: CNN Brasil

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