In Huge Contrast to ISM, S&P Services PMI Has Second-Worst Quarter Since 2009

5 October 2022

US service providers signalled a much slower contraction in business activity during September, according to the latest PMI™ data. The fall in output was only marginal overall, as firms noted that improved demand conditions led to a weaker decline. New orders returned to growth, with domestic sales supporting the upturn, as new export business fell further.

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