Reported about 1 month ago
In August, the US services sector maintained stability with a small increase in the purchasing managers index (PMI) to 51.5, indicating continued growth. However, employment gains decelerated, highlighting a cooling labor market as the unemployment rate rose to 4.3%—the highest in nearly three years. Despite concerns of a potential recession, the economy shows moderate expansion, supported by solid consumer spending. The ISM reported an uptick in new orders, but a decline in services employment points to a slowdown. Economists predict job growth may rebound in August.
Source: YAHOO