U.S. flash August Markit manufacturing PMI fell 0.5 ticks to 49.9
U.S. flash August Markit manufacturing PMI fell 0.5 ticks to 49.9 after dipping 0.2 points to 50.4 in July. This is the lowest print since September 2009. The index was at 54.7 a year ago. New orders also dropped into contractionary territory at 49.5, the weakest since August 2009. The services index dropped 2.1 points to 50.9 in August, more than erasing the 1.5 point rise to 53.0 previously. It was 54.8 a year ago. The composite slid 1.7 points to 50.9 following the prior month's 1.1 point gain to 52.6. It was at 54.7 last August. The weakening in the data, and the drop into contraction for the manufacturing index, will boost Treasuries as it supports more easing from the Fed.