US: Markit Services PMI edges down to 54.5, lowest reading since April

Eren Sengezer FXStreet

"Service sector firms experienced another robust rise in business activity during August, but the rate of expansion eased to a four-month low," IHS Markit said on Thursday.

Key highlights from the press release

This was signalled by a decline in the seasonally adjusted IHS Markit Flash U.S. Services PMI Business Activity Index to 55.2 in August, from 56.0 in July.
New business volumes increased at the slowest pace seen so far in 2018.
Service providers signalled the least marked rise in payroll numbers for eight months.
Input cost inflation moderated in August and was below the average seen during the first half of 2018.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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