New orders were driven mainly by the domestic market. Overseas demand remained weaker, with export-order growth among the slowest in 45 months, according to the survey reported by Reuters.
Hiring almost stalled despite stronger activity. Companies’ input cost pressures eased. The composite index, covering manufacturing and services, rose from 55.9 to 56.2.
A PMI above 50 signals expansion compared with the previous month. The reading of 55.8 is a survey indicator, rather than a 55.8% increase in economic output.