U.S. business activity in August approached stagnation, with growth at its weakest since February as demand for new business in the service sector contracted.
The US economy shows signs of slowing towards the end of summer, with the services-sector index falling to a six-month low and the manufacturing-sector index remaining in negative territory, suggesting a near-stall in business activity and raising doubts about the strength of economic growth in Q3.
The flash surveys from S&P Global show a slowdown in US manufacturing and services sectors, raising concerns about economic growth in the third quarter and indicating a possible contraction in September due to weak demand and rising input costs.
U.S. job growth likely slowed in August due to factors such as striking actors and a major trucking company bankruptcy, but the unemployment rate is expected to remain low; economists caution against overreacting and advise focusing on long-term trends.
The decline in euro zone business activity accelerated faster than expected last month, with the services industry falling into contraction, raising concerns of a possible recession.
Global business activity slowed further last month as services firms struggled with weak demand, potentially leading to a recession in the euro zone and a decline in the UK's private sector activity.
China's services sector experienced a slowdown in business activity, resulting in the lowest level in eight months, as weaker foreign demand and sluggish overseas orders impacted consumption, despite economic stimulus efforts.
U.S. manufacturers reported a decline in business activity for the 10th consecutive month in August, but the declines are becoming less widespread, suggesting that the trough in the cycle may be approaching.
India's services industry experienced a slight slowdown in August, but overall conditions remained strong with record-high exports, indicating that the country will continue to be the fastest-growing major economy.
The U.S. economy experienced modest growth in July and August, driven by pent-up demand for leisure activities, while nonessential retail sales slowed, according to the Federal Reserve's "Beige Book" survey.
US stocks are experiencing their worst performance in September since 1928, but there are signs that the market could avoid a steep downturn this year, with indicators suggesting more stability and positive gains for the rest of the year, according to Mark Hackett, chief of research at US investment firm Nationwide. However, challenges such as elevated oil prices and inflation could put strain on the stock market and the US economy.
September historically has been a challenging month for stocks, but reduced concerns about a recession, signs of a potential shift in Fed policy, and positive sector trends point to the possibility of strategic investment opportunities this year.
Holiday sales in the United States are expected to grow at their slowest pace in five years, as consumers are cautious due to dwindling savings and concerns over the economy, with online shopping expected to be a bright spot.
U.S. retail sales rose more than expected in August due to higher gasoline prices, but underlying spending on goods slowed as Americans faced increased inflation and borrowing costs, while the trend in underlying spending on goods was not as robust as initially thought in July. Despite this, overall consumer spending is expected to remain strong, driven by spending on services.
The US services sector is approaching contraction, with a decline in the S&P Global Flash US Services Business Activity Index, reaching an eight-month low in September, reflecting concerns about demand conditions in the economy following interest rate hikes and elevated inflation.
The US economy experienced a slowdown in August due to a decrease in industrial activity, according to data from the Federal Reserve Bank of Chicago.
Orders for durable goods in the US rose 0.2% in August, primarily due to increased defense spending, while core orders, which exclude defense and transportation, increased by 0.9%, suggesting a positive sign for broader business investment. However, overall business investment remains weak due to rising interest rates and recession fears, indicating a stagnant industrial sector. Higher borrowing costs are expected to continue to impact the sector and economic growth in the future.
Americans' views of the economy have worsened in September, with only 20 percent saying economic conditions are good and 73 percent believing that economic conditions in the country as a whole are worsening, according to a recent Gallup poll.
China's factory and services sectors experienced slower growth in September due to weak external demand, despite an increase in output, with the property slump, falling exports, and high youth unemployment clouding the economic outlook.
The U.S. manufacturing sector contracted in September for the 11th consecutive month, but at a slower rate, with new orders remaining in contraction territory and prices decreasing, according to the latest Manufacturing ISM® Report On Business®.
Japan's service sector experienced the slowest expansion in September since the beginning of the year, as shown by a private survey, indicating potential challenges for the country's economic recovery heavily reliant on domestic demand.
The US jobs market showed slower growth than expected in September, potentially indicating a significant slowdown in the labor market.
Hiring by U.S. companies slowed more than expected in September, reflecting a cooling labor market due to higher interest rates, with the worst month for job creation since January 2021.
The September jobs report is expected to show a slowdown in job growth in the US, with nonfarm payrolls rising by 170,000 and the unemployment rate dropping slightly to 3.7%.
U.S. job growth is expected to have slowed in September, but the unemployment rate likely decreased from a 1-1/2-year high, indicating the underlying strength of the economy; wage gains are also expected to remain elevated.
U.S. retail sales in September exceeded expectations due to increased purchases of motor vehicles, restaurant visits, and bar spending, indicating a potential acceleration in economic growth in the third quarter, but also raising concerns of a Federal Reserve interest rate hike in December.
US retail sales in September exceeded expectations, rising 0.7% from the previous month, suggesting that consumer spending remains strong and could lead to more rate hikes by the Federal Reserve.
Americans continue to spend at a steady pace despite higher prices and rising interest rates, with retail sales in September exceeding expectations and online and restaurant spending seeing significant increases.
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