Sept. 4 (Bloomberg) -- The Markit Economics final index of U.S. manufacturing was little changed at 51.5 in August from 51.4 a month earlier, the London-based group said today.
A reading above 50 indicates expansion. The final figure compares with an initial August reading of 51.9.
Markit’s purchasers figure is based on replies from about 85 percent to 90 percent of those American manufacturers who respond to the poll of the more than 600 companies surveyed.
The gauge of U.S. manufacturing debuted in May. The company surveys purchasing managers in more than 30 countries and regions, including Europe and China.
In the euro-area, manufacturing contracted more than initially estimated in August, suggesting the economy may struggle to avoid a recession in the third quarter.
The gauge of manufacturing in the 17-nation euro area based on a survey of purchasing managers was revised lower to 45.1 from the reading of 45.3 estimated earlier, Markit said yesterday. The index, which stood at 44 in July, has held for 13 months below 50, indicating contraction.
In China, manufacturing slowed further in August, surveys of purchasing managers showed, with one gauge at the lowest level since March 2009. A manufacturing PMI released yesterday by HSBC Holdings Plc and Markit was at 47.6, indicating the fastest contraction in more than three years.
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