Markit manufacturing PMI stays unchanged

The latest flash reading of US manufacturing activity from Markit Economics was 53, unchanged at a 22-month low.

Markit chief economist Chris Williamson noted the survey showed that manufacturing growth was at the weakest level in nearly two years, and that was likely to be a drag on third-quarter growth.

"Manufacturing remained stuck in crawler gear in September, fighting an uphill battle against the stronger dollar, slumping demand in many export markets and reduced capital spending, especially by the energy sector," Williamson said in the release.

Economists had estimated a flash Purchasing Manager's Index reading of 52.8.

More to come ...

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