Economic Buzz: US composite PMI improves in August

The United States PMI Composite Output Index, which accounts for both services and manufacturing business activity, came in at 56 in August, climbing from 54.5 recorded in July and hitting a 52-month high, S&P Global revealed in its preliminary report on Friday.

The Flash US Services PMI Business Activity Index rose from 54.6 in July to 56.8 in August. Meanwhile, the manufacturing PMI stood at 53.2 in the reported month, dipping from 53.9 recorded in the previous month and hitting a five-month low.

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