Markit Index of U.S. Manufacturing Rose to 53.9 in August

The Markit Economics preliminary index of U.S. manufacturing increased to 53.9 in August from a final reading of 53.7 a month earlier, the London-based group said today.

The median forecast in a Bloomberg survey of 18 economists called for a gain to 54.2. Estimates ranged from 53 to 55. A reading greater than 50 for the purchasing managers’ measure indicates expansion. Markit’s purchasers figure is based on replies from 85 percent to 90 percent of those American manufacturers who respond to a poll of the more than 600 companies.