U.S. services sector growth strengthened but employment fell in August
September 5, 2024
August saw a significant recovery in the US services sector, where business activity rose at a pace not seen in nearly two and a half years, thanks to a strong inflow of new orders. However, there is concern that employment fell after two months of job creation. On the cost side, higher supplier prices and rising wages continued to exert significant pressure, leading to a steady increase in input costs. Nevertheless, sales price inflation has fallen to a seven-month low.