Market Flux Event
US Business Activity Surges to Four-Year High in August as Services PMI Blows Past Forecasts
S&P Global's flash composite PMI for the United States jumped to 56.0 in August from 54.5 in July, its strongest reading since April 2022 and well above the consensus estimate of 54.0. The services sector drove the gain, with the services PMI climbing to 56.8 against a forecast of 54.0. Manufacturing held in expansion territory but came in slightly below expectations, with the flash reading at 53.2 versus a forecast and prior reading of 53.9.
The composite result marks a broad acceleration in private-sector activity, with the services beat of nearly three full points signaling resilient consumer and business demand heading into the final months of the year.
© AI-generated summary is provided by Market Flux
Sources
- DeItaoneU.S. S&P GLOBAL AUGUST FLASH COMPOSITE PMI AT 56.0 (VS 54.5 IN JULY) U.S. S&P GLOBAL AUGUST FLASH SERVICES PMI AT 56.8 (FORECAST 54.0) U.S. S&P GLOBAL AUGUST FLASH MANUFACTURING PMI AT 53.2 (FORECAST 53.9)
- FirstSquawkU.S S&P GLOBAL MANUFACTURING PMI (AUG) ACTUAL: 53.2 VS 53.9 PREVIOUS; EST 53.9
- FXStreetNewsBREAKING S&P Global Composite #PMI is seen at 56.0 in August
- WallstengineUS AUGUST FLASH PMI S&P GLOBAL COMPOSITE PMI: 56.0 (Prev. 54.5) SERVICES PMI: 56.8 (Est. 54.0) MANUFACTURING PMI: 53.2 (Est. 53.9)
- MikeZaccardiAugust Composite PMI Flash for Aug - best since April 2022 #boom @sonusvarghese