The survey's composite new orders index slid to the lowest since December at 47.7 from 49.2 last month, marking the second straight month of declining new business. The survey's services PMI edged down to an eight-month low of 50.2, fractionally lower than the reading of 50.6 expected by economists in a Reuters poll. S&P's manufacturing PMI ticked higher to 48.9 from 47.9 in August but was still the fifth straight month of contraction. Economists had forecast a manufacturing PMI of 48.0. Despite the softening environment, both manufacturing and services survey respondents indicated companies kept adding to staff levels this month.

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Persons: Carlo Allegri, Siân Jones, Jones, Dan Burns, Chizu Organizations: REUTERS, P Global, Federal, PMI, P Global Market Intelligence, Thomson Locations: Manhattan, New York City , New York, U.S