US Economic Resilience Tested as Services Activity Hits 8-Month Low
TL;DR
The US services sector is showing signs of contraction as demand slows, with the S&P Global Flash US Services Business Activity Index reaching an eight-month low of 50.2 in September. The composite PMI also dropped to a seven-month low of 50.1, driven by declines in the services sector. Companies cited high interest rates, inflationary pressures, and increased operating expenses as factors weighing on client demand. However, the labor market remains resilient, with job creation at its fastest level since May and businesses finding it easier to fill job openings.
Topics:businesseconomy#demand-slowdown#economic-activity#economy#labor-market#pmi-data#us-services-sector
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- US S&P Global Manufacturing PMI improves to 48.9, Services PMI declines to 50.2 in September FXStreet
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