US service sector stagnates in September as demand conditions wane: Report

Services economy saw subdued end to 3rd quarter, as business activity stagnated, says S&P Global

By Ovunc Kutlu

ISTANBUL (AA) - The US service sector stagnated in September as demand conditions waned further, according to a report released by S&P Global on Wednesday.

"The US services economy saw a subdued end to the third quarter, as business activity stagnated amid weak demand conditions," it said in a report.

"Input costs rose at a marked pace that was similar to that seen in August, but efforts to pass on higher costs to customers led to a faster uptick in output charges," it added.

The S&P Global US Services PMI Business Activity Index came in at 50.1 in September, down 0.4 percentage points from 50.5 in August, and came close to the earlier released flash estimate of 50.2.

US service sector activity climbed to a 12-month high in April.

Kaynak:

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