U.S. July flash factory PMI rises to 4-month high

WASHINGTON (MarketWatch)
The U.S. flash manufacturing purchasing managers' index rose to a 53.2 reading in July from 51.9 in June, Markit said
This is the highest level in four months
Details of the report were strong as new orders and employment increased
"The U.S. manufacturing sector picked up momentum again in July, with output orders books and employment all growing," said Chris Williamson, chief economist at Markit
"The pace of manufacturing growth nevertheless remains well below that seen at the start of the year, in part reflecting weaker demand from many export markets, notably China and other emerging economies," he said
The Markit index is similar in design to the Institute for Supply Management manufacturing index, which will be released in one week
The Markit index has been higher than the ISM factory index in 22 of the past 24 months
The last reading for the ISM index was 50.9