Delta variant, supply woes crimp business activity in August -IHS Markit survey

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Mixed signals on the U.S. economy as business activity slowed for the third straight month in August, but homes sales rose in July as inventories improved moderately

Data firm IHS Markit said on Monday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, fell to 55.4 - the lowest since last December - from 59.9 in July. A reading above 50 indicates growth in the private sector.

The IHS Markit survey's flash services sector PMI fell to a reading of 55.2 from 59.9 in July. Economists polled by Reuters had forecast a reading of 59.5 this month for the services sector, which accounts for more than two-thirds of U.S. economic activity. IHS Markit's measures of prices paid by services companies and manufacturers both rose, with factory input prices hitting another record high.

 

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