Mumbai, Sept. 5 -- The S&P Global US Services PMI Business Activity Index posted 54.5 in August, down from 55.7 in July and the earlier 'flash' reading of 55.4 to signal slower, but nonetheless still marked, growth of US service sector output. Higher levels of business activity have now been recorded on a continuous monthly basis since February 2023. Moreover, August's index reading was the second highest of 2025 so far.
The US service sector continued to expand in August, despite growth softening slightly since July. A marked uptick in new business volumes helped to support the latest increase in activity, meaning service providers were also suitably encouraged to add to their payroll numbers.
That was despite confidence in the outlook r...