The Services sector experienced sustained growth for a second month in August, with the Services PMI at 51.5, slightly up from July’s 51.4. Although the August reading is 0.2% below the 12-month average, ten sectors reported gains, including Healthcare and Finance, while sectors like Retail and Construction saw declines. Key subindexes showed mixed results, with Business Activity at 53.3 and New Orders at 53.0, both indicating growth but at a slower pace. ISM’s Steve Miller noted a slow growth environment, with expectations for the PMI to remain between 50 and 52.5 in the coming months.

Source: https://www.logisticsmgmt.com/article/services_sector_sees_growth_in_august_for_the_second_straight_month_reports_ism/