🇺🇸August flash composite PMI reached 56, with services at 56.8 and manufacturing at 53.2.

The preliminary U.S. S&P Global composite Purchasing Managers’ Index reached 56 in August. That exceeded both the reported forecast of 54 and the previous reading of 54.5.

Services supplied most of the upside, with the flash services PMI reaching 56.8. The figure was above the forecast of 54 and the prior reading of 54.6.

The flash manufacturing PMI was 53.2, remaining above the 50 level while falling short of the 53.9 forecast and the previous 53.9 reading. The composite result therefore strengthened even though manufacturing weakened relative to both consensus and the prior month.