Washington (awp/afp) – U.S. service-sector activity recorded stronger-than-expected growth in August, and business leaders generally have a positive outlook on economic conditions, according to the monthly survey of the professional federation ISM published on Wednesday.
The index measuring such activity rose 1.8 percentage points from July to 54.5%, surprising analysts who had expected growth to slow slightly to 52.4%, according to the consensus Briefing. .com.
An index above 50% means that the activity is growing. Below, it contracts, which has only happened once in the last three years for services.
“There has been an increase in the growth rate of the service sector,” said the president of the survey, Anthony Nieves, quoted in the press release, referring in particular to “faster deliveries from suppliers”.
In addition, “the majority of panelists have a positive perception of the commercial and economic situation”, he adds.
The sub-index measuring changes in prices paid by companies to their suppliers nevertheless rose in August, reflecting an acceleration in prices.
Recent inflation figures have shown that inflation is now fueled by service prices, while goods prices have been falling for several months.
The PCE price index, favored by the American central bank (Fed) and which it wants to reduce to 2.0%, showed a rebound in July, to 3.3% over one year against 3.0% in June .
The CPI index, on which pensions are indexed, evolved in the same way, to 3.2% over one year in July, against 3.0% in June. Data for August will be released on September 13.
afp/lk
2023-09-06 15:30:03
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