The U.S. composite purchasing managers’ index (PMI), which encompasses both manufacturing and services, rose from 44.6 in August to 49.3 in September, hitting a three-month high, according to preliminary data released this Friday (23) by S&P Global.
Although it remained below the 50 barrier that signals contraction, the indicator shows that activity in the world’s largest economy is shrinking at a more contained pace this month.
Only the US services PMI advanced from 43.7 to 49.2 in the same period, also reaching the highest level in 3 months and surpassing the expectations of analysts consulted by the The Wall Street Journalwhich predicted a much smaller rise at 45.3.
The US industrial PMI increased from 51.5 in August to 51.8 in September. In this case, the market consensus was down to 51.2.
Source: CNN Brasil
Joe Jameson, a technology journalist with over 2 years of experience, writes for top online news websites. Specializing in the field of technology, Joe provides insights into the latest advancements in the industry. Currently, he contributes to covering the world stock market.
