USA: composite PMI revised upwards for August

(CercleFinance.com) - Growth in the US private sector finally accelerated in August, according to S&P Global's composite PMI, which came in at 54.
6 in definitive data, versus 54.1 in flash estimates and 54.3 for the previous month.

For the record, the 50-point threshold separates an expansion and a contraction in a sector's activity: the higher the PMI above this threshold, the faster the pace of expansion.

However, this rise in private sector activity masks a sharp contrast between services, which saw their strongest expansion since March 2022 with a PMI index of 55.7, and manufacturing industry, where production fell.

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