US services sector posts strong growth
The S&P Global US Services PMI was finalized at 58.8 in September, beating market expectations of 58.7. The Composite PMI stood at 58.4, remaining firmly in expansion territory.
According to S&P Global, new order growth reached its highest level in four and a half years, while job creation was the strongest since June 2022. Meanwhile, renewed acceleration in input cost inflation indicated that price pressures remain elevated alongside strong economic activity.
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