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CHART OF THE DAY: U.S. IHS Markit August manufacturing PMI reaches highest point since early 2019

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According to data released by IHS Markit, manufacturers noted improvement in operating conditions midway through the third quarter, as highlighted by the IHS Markit Flash U.S. Manufacturing Purchasing Managers’ Index. The index posted a reading of 53.6 in August, up from 50.9 in July. The overall rate of improvement was the fastest since January 2019 and is over 17 points higher than the pandemic low of 36.1 in April.

The upturn, the fourth straight monthly advance, was driven by quicker expansions in output and new orders. Of note was also the jump in order backlogs, which registered its highest level since October 2009, a sign that we could expect further output gains in the coming months.

 

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About Jason Alexander

@jaalex53

Jason assists clients in the industrial products, consumer products and financial services industries and has more than 15 years of experience serving large multinational clients with particular emphasis on SEC clients, Fortune 500 and middle market companies. Jason has previously advised clients in the areas of accounting, risk management, mergers and acquisitions, process design and improvement, internal audit, regulatory compliance, internal and external financial reporting and information technology system implementation. Strong record of accomplishment of people, team and practice development across North America, Europe, Latin America, Africa and Asia.

Jason is also on the Board of Directors of the RSM US Foundation and a member of RSM’s cutting edge Industry Eminence Program, which positions participants to understand, forecast and communicate economic, business and technology trends shaping the industries RSM serves.

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