“Service sector activity growth eases, amid weaker new business upturn,” the IHS Markit reported on Thursday.
- The seasonally adjusted final IHS Markit U.S. Services Business Activity Index registered 54.8 in August, down from 56.0 in July.
- New business also increased in August, but the rate of expansion dipped to an eight-month low.
- Although still solid, the rate of job creation dipped to a seven-month low in August.
- Input prices paid by service sector firms continued to increase at a strong rate in August.
- Finally, business confidence was strongly positive and optimism improved from July’s recent low in August.
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