The U.S. services sector either expanded or shrank faster in August than in July, according to two separate business surveys, adding to other mixed signals of the U.S. economy’s strength in recent months
Construction was one of the fastest-growing sectors in the Institute for Supply Management survey.Sept. 6, 2022 2:07 pm ET
Separately, data firm S&P Global said on Tuesday the services sector shrank faster in August than in July due to weak demand, according to Services PMI Business Activity Index. “We are seeing a broad-based slowdown in the economy,” said Chris Williamson, chief business economist at S&P Global Market Intelligence.Markets have surged as investors price in a soft landing for the U.S. economy and the end of peak inflation. But that all could be threatened if the dollar continues to weaken. WSJ’s Dion Rabouin explains. Illustration: David Fang
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