Key Insights
- Manufacturing PMI declined from 49 in July to 47 in August.
- Services PMI decreased from 52.3 in July to 51 in August.
- Composite PMI fell from 52 in July to 50.4 in August.
On August 23, S&P Global released U.S. PMI reports for August. The reports indicated that Manufacturing PMI declined from 49 in July to 47 in August, compared to analyst consensus of 49.3. Numbers below 50 show contraction.
Services PMI decreased from 52.3 in July to 51 in August, while analysts expected that it would drop to 52.2. Composite PMI declined from 52 to 50.4.
S&P Global commented: “U.S. firms signalled…
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