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.
- Global Market Intelligence reported the Composite Output Index climbed to 56.0 in Aug, the highest reading since April 2022, as overall business activity accelerated sharply.
- Activity at service providers rose to 56.8, offsetting an easing in the manufacturing PMI to a five-month low of 53.2, while hiring grew by the most in 19 months.
- Chris Williamson, chief business economist at Global Market Intelligence, said, "U.S. business is booming, with firms reporting the fastest output growth for over four years," with annualized growth approaching 3.0%.
- Businesses remain concerned about Middle East conflict effects on supply chains and energy prices, though input costs expanded in Aug at the slowest pace since the war began.
- A future output measure reached a nine-month high, though Williamson noted, "Price pressures, while fading, also remain elevated and prone to renewed upward pressures should energy prices rise again.
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S&P Global Says U.S. Business Activity Hits Four-Year High as Hiring Surges and Inflation Eases
U.S. private-sector activity accelerated sharply in August, with services, employment and business confidence strengthening as price pressures cooled and S&P Global’s survey data pointed to ... The post S&P Global Says U.S. Business Activity Hits Four-Year High as Hiring Surges and Inflation Eases first appeared on [your]NEWS.
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...
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