Reported about 2 months ago
U.S. business activity fell to a four-month low in August, reflecting challenges in passing higher prices to consumers, which suggests a sustained downward trend in inflation. The S&P Global Composite PMI Output Index dropped to 54.1, with the services sector showing a slight increase overshadowed by a decline in manufacturing. Average prices charged rose at the slowest pace since January, indicating pressure from consumers on prices, while inflation rates are easing, hinting at potential GDP growth and lower interest rates.
Source: YAHOO