The US August composite PMI rose to 56.0, reaching a new high since April 2022

The S&P Global US Composite PMI Index rose 1.5 points to 56.0 in August, reaching a new high since April 2022 and growing for the third consecutive month. The PMI index for the service industry rose 2.2 points to 56.8, reaching a new high since March 2022. The manufacturing PMI index fell 0.7 points to 53.9, the lowest level in the past five months, but still in the expansion zone. Leading by the service industry, American companies are increasing their workforce at the fastest pace since January 2025. The data predicts that the annual growth rate of US GDP in the third quarter of 2026 will reach+3.0%, and the growth rate in the second quarter will be+1.5%. Artificial intelligence is driving a wave of growth.