Economic Buzz: US composite PMI hits four and half year high

The United States Composite PMI Output Index hit 56 in August, up from July's 54.5 and marking the highest reading in 52 months, S&P Global said in its final report on Thursday. Meanwhile, the Services PMI Business Activity Index came in at 56.5 in the reported month, up by 1.9 points from July and marking a 20-month high.

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