Business Activity Expands at Fastest Pace Since 2022
Services growth accelerated to 56.8, the strongest since December 2024, as manufacturing slowed and overall business activity reached its highest level since April 2022.
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The index of purchasing managers (PMI) composed of the United States, which gathers data from the industrial and service sectors, advanced to 56 points in August, from 54.5 in July, according to preliminary data recently released by S&P Global. This is the highest reading for the indicator since April 2022. The index of the service sector rose to 56.8 points, above the consensus of 53.9 points of a group of analysts. This is the highest level fo…
US service sector fuels acceleration in business activity, S&P Global says
Aug 21 (Reuters) - The strongest growth in the U.S. services sector in nearly two years powered a sharp acceleration in overall business activity in August, offsetting a slowing of growth in a manufacturing sector being restrained by reduced stock buil...
S&P Global's composite US purchasing managers' index (Composite PMI) rose preliminarily to 56.0 in August, compared to 54.5 the previous month.
Friday's report showed that companies are hiring workers at the fastest pace since January 2025.
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