European and Chinese firms have reported strong factory orders in
September, sending a strong signal that the global economy is healing.
But weaker than expected US manufacturing activity hit stock market
sentiment.
Financial data firm Markit said its "flash", or preliminary, US manufacturing purchasing managers index (PMI) retreated to 52.8 this month from 53.1 in August, confounding analysts' forecasts of an improvement. A reading above 50 indicates expansion.
The weaker PMI was widely seen as a signal that jobs growth in the sector had entered a slower phase, justifying the Federal Reserve's decision to maintain its stimulus to boost the economy – a move that had initially bolstered stock markets last week.
http://www.theguardian.com/business/2013/sep/23/weak-us-manufacturing-data-china-europe
Financial data firm Markit said its "flash", or preliminary, US manufacturing purchasing managers index (PMI) retreated to 52.8 this month from 53.1 in August, confounding analysts' forecasts of an improvement. A reading above 50 indicates expansion.
The weaker PMI was widely seen as a signal that jobs growth in the sector had entered a slower phase, justifying the Federal Reserve's decision to maintain its stimulus to boost the economy – a move that had initially bolstered stock markets last week.
http://www.theguardian.com/business/2013/sep/23/weak-us-manufacturing-data-china-europe
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