U.S. industrials output growth slips to near 3.5 year lowChristian Fernsby ▼ | September 10, 2019
U.S. Sector PMI indices are compiled from responses to questionnaires sent to purchasing managers in IHS Markit's U.S. manufacturing and services PMI survey panels, covering over 1,000 private sector companies.
America Industrials registered the weakest rise
Topics: U.S. output industrial
Industrials firms signalled only a fractional increase in output during August, according to the US Sector PMITM.
The rate of expansion eased to the slowest in the current sequence of growth that began in April 2016.
Of the monitored sectors that indicated an expansion, industrials registered the weakest rise.
Similarly, healthcare firms noted a slowdown in business activity growth in August.
The increase was only fractional overall and the softest since December 2017.
The rate of expansion among consumer services companies, meanwhile, eased to a three-month low and was only slight.
Only the Financials Business Activity Index posted below the 50.0 neutral mark in August, albeit signalling a negligible fall in output.
It marked the first sub-50.0 reading since January for the sector.
In contrast, technology and consumer goods firms recorded the fastest rates of expansion for four months, with the former topping the output growth rankings table.
The upturn across the technology sector was solid overall, with a modest increase registered across the consumer goods segment.
Finally, basic materials firms signalled a slight uptick in the rate of output expansion in August.
The rise was only marginal overall, however. ■