News Formal

US Business Activity Barely Expands on Subdued Customer Demand

  • 📰 BNNBloomberg
  • ⏱ Reading Time:
  • 21 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 12%
  • Publisher: 50%

Canada News News

Canada Canada Latest News,Canada Canada Headlines

US business activity expanded in early August at the weakest pace in six months, inching closer to stagnation amid sluggish demand.

The S&P Global flash composite output index fell 1.6 points to 50.4 in August as manufacturing continued to shrink and services activity cooled, the group reported Wednesday. Readings above 50 indicate growth.

“Companies report that demand is looking increasingly lethargic in the face of high prices and rising interest rates,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement. The report offered mixed news on inflation. Costs of wages and materials accelerated, but growth in prices charged eased slightly as companies tried to stoke demand for goods and services.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 83. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

German business activity suffers steepest decline since May 2020-flash PMIBERLIN (Reuters) - German business activity contracted at the fastest pace for more than three years in August, a preliminary survey showed on ...
Source: SaltWire Network - 🏆 45. / 63 Read more »