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The latest US S&P Global Flash PMI report indicates a decline in employment for August, marking the first drop in three months. This downturn in employment has resulted in net job losses in three of the past five months, representing the weakest period of payroll growth since the first half of 2020. Additionally, the S&P Global Flash US Manufacturing PMI decreased from 49.6 in July to 48.0 in August, against an expected 49.5, indicating a continued contraction in the manufacturing sector for the second consecutive month and the most significant decline since December.
'The S&P Global Flash US Manufacturing PMI fell from 49.6 in July to 48.0 in August, signaling a deterioration in business conditions within the goods-producing sector for a second successive month and the steepest rate of deterioration since December.' https://t.co/m2WlrFvDKg https://t.co/gwjJKFdhkZ
🇺🇸US PMI report highlights weakening US jobs market 👇 'US Employment fell in August, dropping for the first time in three months. Net job losses have now been reported in three of the past five months, marking the softest spell of payroll growth since the first half of 2020'
**AUGUST PRELIM S&P MFG PMI: 48.0 V 49.5E (2nd month of contraction) "Employment fell in August, dropping for the first time in 3 months. Net job losses have now been reported in 3 of the past 5 months, marking the softest spell in payroll since 1H20." https://t.co/6YfYUENtGS https://t.co/KdXjqutwiL
