What was the August flash services PMI reading, and how does it compare to recent trends?

The August flash services Purchasing Managers' Index (PMI) rose to 56.8, the highest level since December 2024, up from 54.6 in July. This marked the strongest growth in the U.S. services sector in nearly two years and drove the Composite Output Index to 56.0—the highest since April 2022—up from 54.5 in July. The services expansion more than offset a slowdown in manufacturing, where the PMI fell to a five-month low of 53.2.

What does S&P Global project for U.S. GDP growth in Q3, and how does that compare to Q2?

S&P Global stated that third-quarter U.S. economic growth is on track to double the second quarter’s 1.5% annualized expansion rate, with survey data pointing to annualized growth approaching 3.0%. Chris Williamson, chief business economist at S&P Global Market Intelligence, characterized the current pace as the fastest output growth for over four years so far in the third quarter, reflecting further acceleration in August.

US service sector fuels acceleration in business activity, S&P Global says

Aug 21, 2026

S&P Global reports US business activity accelerated in August driven by the services sector, while manufacturing slowed due to supply disruptions in key commodities and higher energy prices linked to the Iran war.

reuters

2026-08-21

US service sector fuels acceleration in business activity, S&P Global says

US service sector fuels acceleration in business activity, S&P Global says

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