Source: ISM
The services sector posted a slight rebound in August, posting the 16th straight month of growth.
- The Services PMI stood at 61.9%, up 0.2 percentage points from 61.7 in August. This indicates the 16th straight month of growth, expanding for all but two of the last 140 months.
- The Supplier Delivers Index fell 0.8 percentage points to 68.8% from 69.6% in August, while the Prices Index climbed 2.1 percentage points to 77.5% from 75.4%.
- A total of 17 service industries reported growth during the month, including retail trade, arts, entertainment and recreation, management of companies and support services, and education services.
- Gains were also seen in transportation and warehousing, real estate, rental and leasing, accommodation and food services, construction, and mining.
- Growths were recorded in new orders, prices, the backlog of orders, and inventory sentiment, while declines were seen in employment, supplier deliveries, inventories, and imports.
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