Business activity expands at fastest pace since 2022
Services PMI rose to 56.8, and businesses added workers at the fastest pace since January 2025, S&P Global said.
- S&P Global Market Intelligence reported the Composite Output Index climbed to 56 in Aug, the highest reading since April 2022, as overall U.S. business activity accelerated sharply.
- Services PMI rose to 56.8, the highest since December 2024, offsetting an easing in manufacturing PMI to a five-month low of 53.2 from 53.9 in July.
- Chris Williamson, chief business economist at S&P Global Market Intelligence, said, "Business is booming, with firms reporting the fastest output growth for over four years," with annualized growth approaching 3.0%.
- Businesses remain concerned about Iran conflict effects on supply chains and energy prices via the Strait of Hormuz, though input costs expanded in Aug at the slowest pace since the war began.
- A future output measure reached a nine-month high, suggesting sustained optimism, though Williamson cautioned, "Price pressures, while fading, also remain elevated and prone to renewed upward pressures should energy prices rise again.
11 Articles
11 Articles
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.
Coverage Details
Bias Distribution
- 67% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
