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Business activity kicked into high gear this month, accelerating at its fastest pace in more than four years, S&P Global said on August 21.
August’s S&P Global Composite Purchasing Managers’ Index—a monthly survey that combines factory output and services business activity—rose to 56, from 54.5 in July.
This exceeded expectations and marked the strongest expansion since April 2022.
“US business is booming,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement attached to the report.
But while manufacturing output continued to expand, momentum shifted to the services sector, which registered its strongest activity since December 2024….
August’s S&P Global Composite Purchasing Managers’ Index—a monthly survey that combines factory output and services business activity—rose to 56, from 54.5 in July.
This exceeded expectations and marked the strongest expansion since April 2022.
“US business is booming,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement attached to the report.
But while manufacturing output continued to expand, momentum shifted to the services sector, which registered its strongest activity since December 2024….
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