Manufacturing and services sector activity falls in August
Edited By WION Video Desk
Published: Aug 24, 2023, 06:20 IST | Updated: Aug 24, 2023, 06:20 IST
The US composite PMI index, which tracks manufacturing and service sectors, fell to 50.4 in August from 52 in July. That's the biggest drop since November 2022. When looked at individually, the manufacturing & services sector data was even more worrying business activity in the services sector was at 51.0 in August. That's the lowest since February this year. The manufacturing index fell deeper into contraction territory at 47, that's down from 49 in July and marked the fourth straight month of contraction.
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