Markit Index of Manufacturing in U.S. Increased to 53.2 in July

The Markit Economics preliminary index of U.S. manufacturing increased to 53.2 in July from a final reading of 51.9 a month earlier, the London-based group said today.

The median forecast in a Bloomberg survey of 16 economists called for a gain to 52.6. Estimates ranged from 51 to 53.8. 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.