The United States Composite PMI Output Index clocked in at 56 in August, up from July's 54.5 and marking the highest reading in 52 months, S&P Global said in its final report on Thursday. Meanwhile, the country's Services PMI Business Activity Index came in at 56.5 in the reported month, up by 1.9 points from July and reaching a 20-month high.
"Business activity growth across the private sector accelerated in August, marking a clear shift in gear for the US economy. Survey data now point to GDP growing at an annualized rate of 3.0% in the third quarter, up solidly from the meagre 1.5% recorded in the previous quarter," Economist at S&P Global Market Intelligence Usamah Bhatti stated. "There was also a welcome acceleration in jobs growth during August, with employers becoming more confident across both the manufacturing and service sectors."
https://breakingthenews.net/Article/US-composite-PMI-hits-52-month-high-in-August/67040611
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.