(CercleFinance.com) – The US private sector slowed its contraction in September under the effect of a return to growth in order intake, shows the PMI survey published Friday by S&P Global.
Its composite index – which measures overall activity based on responses from purchasing managers at companies in the sector – stood at 49.3 this month, down from 44.6 in August.
In services, the ‘flash’ PMI rose sharply to reach 49.2, after 43.7 in August, a level well above the consensus which was targeting 45.
The PMI for the manufacturing industry rose to 51.8 from 51.5 last month, again exceeding economists’ projections which were aiming for an average of 51.3.
For Chris Williamson, the chief economist in charge of the survey, these figures – and in particular the modest growth posted by new orders – are likely to allay some concerns about the current pace of the economic slowdown. American.
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