S&P Flash PMI Composite 54.1 (Est. 53.5) S&P Flash PMI Mfg. ...

S&P Flash PMI Composite 54.1 (Est. 53.5)

S&P Flash PMI Mfg. 48 (Est. 49.6)

S&P Flash PMI Services 55.2 (Est. 54.0)

In August, U.S. business activity continued to grow strongly, signaling ongoing economic expansion in the third quarter, according to S&P Global's flash PMI survey. However, growth was uneven, with the service sector expanding at an increased pace while manufacturing output declined at its fastest rate in 14 months. Employment also declined, with hiring slowing sharply in manufacturing and service sector payrolls dropping due to hiring challenges. Inflation showed some improvement, with the smallest rise in prices for goods and services since June 2020 (except for a dip in January), but input costs remained historically high.