Updated
Updated · Bloomberg · Aug 23US Business Activity Jumps to 56 in August, Fastest Since April 2022
3 articles · Updated · Bloomberg · Aug 23Summary
- S&P Global’s flash US composite PMI rose to 56 in August, marking the strongest business activity reading in more than four years.
- Stronger demand and a brighter outlook drove the gain, fueling a wave of hiring as companies expanded output.
- Readings above 50 signal expansion, and August’s result was the highest since April 2022.
- Services led the advance while manufacturing lagged, with service-sector strength offsetting softer factory activity.
Insights
How long can the booming U.S. service sector offset the growing supply chain bottlenecks dragging down manufacturing? Despite strong 3.0% GDP growth signals, why are investors still flocking to gold at over $4,500 an ounce? Will sticky inflation and rising energy costs push gold prices back toward their 2026 peak of $5,500?