US industry activity grew more strongly in August than a month earlier, reports Markit on the basis of a preliminary estimate. The American industry thus performs better than the European industry. Earlier in the day, figures for France, Germany and the euro area, among others, showed that the recovery of industry there is a bit sluggish.
Markit’s purchasing manager index recorded a score of 53.6 in the US this month compared to 50.9 in July. Economists in general counted on a score of 52. A level of 50 or more indicates growth, below it indicates contraction.
The American services sector also improved. The index for that increased to 54.8 of 50 a month earlier. Here, an average level of 51 was predicted.
Economic activity in the US has been on the rise since the lock-down measures against the corona virus, which have been eased and so factories and businesses are getting back on track. However, the number of new Corona infections in the US has increased sharply recently, which could undermine economic recovery if restrictive measures are reintroduced.
Sales of existing homes in the United States increased sharply again in July compared to a month earlier. That’s what the American brokerage Association reported. Also in June sales made a leap after sales fell in april and may.
Sales increased by 24.7% on a monthly basis. Economists, on average, assumed an increase of 14.6 percent. In June sales increased by an adjusted 20.2%.