U.S. service sector activity down

According to preliminary calculations, the PMI index, showing activity in the services sector, fell to 44.1 points in the US in August from 47.3 points in July. This was reported by Reuters, citing data from S&P Global.

An index value above 50 points indicates an increase in activity, below – a decline.

At the end of July, inflation in the US reached forty-year record, amounting to 9.1%. Food prices in the country rose by 12.2% in a year, showing a significant increase since 1979. The cost of renting housing rose by 5.8%, reaching a record high since 1986.

Olesya Pavlenko