The ISM services PMI registered 54.5 in August, up from the prior month's reading of 52.7%. This is the eighth straight reading in expansion territory.
The numbers: An ISM barometer of business conditions at service companies such as restaurants and hotels strengthened to 54.5% in August from 52.7 in the prior month.This is the eighth straight reading above the 50% threshold that indicates expansion in the economy.
Key details: The new orders index rose 2.5 percentage points to 57.5% in August. The employment index rose 4 percentage points to 54.7%.Thirteen out of 18 industries reported growth in August. A separate reading on the service sector from S&P Global Market Intelligence reported a slowdown in growth in August.
The S&P Global U.S. services PMI fell to 50.5 in August, down sharply from 52.3 in the prior month and the “flash” reading of 51. This is the slowest pace in seven months. Big picture: “Despite mixed signals from regional Fed and national surveys, the service sector has remained resilient. We expect this trend to continue, however any signs of weakening would be noteworthy since services and consumer spending have been the major drivers of growth lately,” said Aichi Amemiya, chief economist at Nomura.
Argentina Últimas Noticias, Argentina Titulares
Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.
US: ISM Services PMI rises to 54.5 In August vs. 52.5 expectedThe economic activity in the US service sector continued to expand in August, for the eighth consecutive month, with the ISM Services PMI rising from
Leer más »
UK consumer spending growth slows in August despite 'Barbenheimer' boostBritish consumer spending growth lost pace last month, adding to signs of a weakening economy, despite a doubling in cinema takings after the release of the films 'Barbie' and 'Oppenheimer', Barclays data showed on Tuesday.
Leer más »
Deribit Sees 17% Growth in Crypto Derivatives Trading Volume in August, Led by OptionsDeribit registered an increase in crypto derivatives trading volume even as global activity declined by 12.1% to around $1.6 trillion.
Leer más »
AUD/USD stays depressed YTD low below 0.6400 ahead of Australia GDP, US ISM Services PMIAUD/USD bears lick their wounds at the lowest level in 2023 after falling the most in five weeks as traders await Australia’s second quarter (Q2) Gros
Leer más »
USD/CAD gains traction around 1.3640 ahead of the BoC rate decision, US ISM Services PMIThe USD/CAD pair edges higher to 1.3640 after bouncing off the low of 1.3600 during the early Asian session on Wednesday. A higher Treasury yield and
Leer más »