Economic Buzz: US composite PMI hits 52-month high in August

The United States Composite PMI Output Index clocked in at 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 country's Services PMI Business Activity Index came in at 56.5 in the reported month, up by 1.9 points from July and reaching a 20-month high.

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