Summary
- The August U.S. Services Purchasing Managers’ Index (PMI) from S&P Global came in at 54.5, below the 55.4 forecast.
- Although weaker than signaled by the preliminary ‘flash’ PMI reading, and below that seen in July, the expansion of the service sector in August was still the second strongest recorded so far this year.
- The brighter news on current economic growth and hiring is marred by concerns over future growth prospects and inflation.
By Jennifer Nash
The August U.S. Services Purchasing Managers’ Index (PMI) from S&P Global came in at 54.5, below the 55.4 forecast. The reading marks the 31st consecutive month of expansion and the second strongest growth of 2025 so far.
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