US economy near stalling point as consumer demand weakens, survey says

U.S. business activity in August approached stagnation, with the weakest growth since February and a contraction in the service sector, indicating a more tepid economic outlook than previously thought.

reuters.com

Relevant topic timeline:

8/23/2023

Germany August flash manufacturing PMI 39.1 vs 38.7 expected

German business activity, particularly in the services sector, experienced its sharpest decline since May 2020, leading to concerns about the country's outlook for the remainder of the year and potential stagflation, as both manufacturing and services sectors are contracting.

8/30/2023

CNBC Daily Open: Fewer jobs, higher stocks

Job growth in the US slowed in August, signaling the impact of high interest rates, which has given traders hope that the Federal Reserve might pause hikes; US stocks rallied on the news, with the S&P 500 on a four-day winning streak and regaining some of August's losses.

9/1/2023

Hollywood strike, Yellow bankruptcy likely restrained US job growth in August

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.

9/1/2023

ISM factory index stumbles for 10th consecutive month in August

U.S. manufacturing activity rose in August, but the sector remains in contraction territory according to the Institute for Supply Management, suggesting that a sustained recovery is unlikely amid a weakening global economy.

9/5/2023

Euro zone August downturn deeper than was thought

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.

9/5/2023

Column: Prolonged US manufacturing slowdown barely dents energy use

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.

9/6/2023

Last burst of leisure spending leads to modest U.S. growth in summer months, Fed's Beige Book says

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.

Topics

Posted 8/23/2023, 1:51:00 PM

US economy near stalling point as consumer demand weakens, survey says

reuters.com

Relevant topic timeline:

8/23/2023

Germany August flash manufacturing PMI 39.1 vs 38.7 expected

8/30/2023

CNBC Daily Open: Fewer jobs, higher stocks

9/1/2023

Hollywood strike, Yellow bankruptcy likely restrained US job growth in August

9/1/2023

ISM factory index stumbles for 10th consecutive month in August

9/5/2023

Euro zone August downturn deeper than was thought

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.

9/5/2023

Column: Prolonged US manufacturing slowdown barely dents energy use

9/6/2023

Last burst of leisure spending leads to modest U.S. growth in summer months, Fed's Beige Book says