Services PMI® at 54.5%; August 2023 Services ISM® Report On Business®

The Services PMI® registered 54.5 percent in August, indicating expansion in the services sector for the eighth consecutive month, with growth in business activity, new orders, employment, and supplier deliveries.

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9/5/2023

‘Economic momentum is still weak’: 4 takeaways from China’s August activity data

China's official manufacturing PMI rose to 49.7 in August, indicating a slight improvement in domestic demand, while the non-manufacturing PMI fell to 51, suggesting a slowdown in the services sector; however, the composite PMI remained in expansion territory, indicating a modest cyclical recovery is likely.

9/6/2023

ISM Services PMI unexpectedly rises in August

The US services sector expanded for the eighth consecutive month in August, with all four subindexes of the Services PMI showing growth, according to the Institute for Supply Management.