Share
WASHINGTON — U.S. services expanded at a stronger pace in August, driven by an uptick in business activity and new orders.
The Institute for Supply Management, an association of purchasing managers, said Thursday that its non-manufacturing index rose to 56.4 from 53.7 in July after two months of cooler growth. Readings above 50 signal growth, and the US services sector has been expanding for 115 months.
Services make up the bulk of US economic activity, so the results are a reassuring signal of continued economic strength.
While services companies surveyed express their concern over tariffs and geopolitical uncertainty, they appear so far to have avoided the challenges faced by the manufacturing sector. The ISM manufacturing index released Tuesday reported the sector shrinking for the first time in three years.
U.S. Businesses Added a Healthy 195,000 Jobs in August
Paul Ashworth, chief economist at Capital Economics said the report was a reminder that “the US economy is hanging in there, even though the manufacturing sector specifically is in recession.”
“Employment decelerated modestly and was its lowest level since March ’17, countering today’s stronger ADP report,” an analysis distributed by Contingent Macro Research said.
Slower hiring growth could also simply reflect seasonal changes, according to Anthony Nieves, the Chair of the ISM Non-Manufacturing Business Survey Committee.
“Overall, you see the employment typically pick up in the fall,” Nieves said.
RELATED TOPICS:
Fresno First Responders Talk Person Down off Parking Garage Ledge
3 hours ago
US Judge Reaffirms Nationwide Injunction Blocking Trump Executive Order on Birthright Citizenship
4 hours ago
Key Player in California’s Water Wars Embraces Controversial Newsom Plan
7 hours ago
Israeli Columnist Alleges Ethnic Cleansing Plan in Gaza
7 hours ago
Tulare Officer Injured in Crash While Trying to Save Unresponsive Infant. Child Dies at Hospital
2 hours ago
Categories

Tulare Officer Injured in Crash While Trying to Save Unresponsive Infant. Child Dies at Hospital

PBS Has a Future by Leaving the Past Behind: Opinion

Fresno Council Candidate Rassamni Says City Is Investigating Him Amid Allegations by Arias

Fresno First Responders Talk Person Down off Parking Garage Ledge

US Judge Reaffirms Nationwide Injunction Blocking Trump Executive Order on Birthright Citizenship
