US: Manufacturing output expands at weakest pace since June 2016 - Markit

"August’s PMI reading signalled a further improvement in operating conditions among US manufacturing firms," said the IHS Markit on Friday.

Key highlights:

• The seasonally adjusted IHS Markit final US Manufacturing Purchasing Managers’ Index (PMI) registered 52.8 in August, down slightly from July’s reading of 53.3. 
• Weighing on the headline index was a softer rise in manufacturing production. Output at manufacturing firms increased at the weakest pace since June 2016 in August. 
• Meanwhile, new orders rose at a pace only slightly weaker than July. 
• Positive sentiment remained robust in August, despite slipping slightly since July. 
• Subsequently, firms continued to hire additional staff. Workforce numbers expanded at the strongest pace in six months.