U.S. business activity accelerated in August to the fastest pace in more than four years, propelled by a surge in the service sector, a sharp revival in hiring, growing optimism among businesses, and easing inflation pressures, S&P Global said Friday.
“US business is booming, with firms reporting the fastest output growth for over four years so far in the third quarter as the expansion picked up further momentum in August,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said.
The S&P Global Flash U.S. Composite PMI Output Index rose to 56.0 in August from 54.5 in July, reaching its highest level since April 2022…
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