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Breaking Posted 12 hours ago

US Services PMI rises to 55.4; new orders surge but employment contracts

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ISM Services PMI climbed 1.3 points to 55.4 in August, driven by new orders jumping to 60.9—highest since February 2023. However, prices paid hit 72.6 (highest since July 2022) while employment contracted for the second consecutive month. The data signals growth friction: demand strength versus wage/cost pressures and weakening hiring, complicating Fed rate-cut narrative ahead of September decision.
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