US Business Activity Barely Expands on Subdued Customer Demand
- S&P Global composite gauge fell to six-month low in August
- Orders contract, while costs of wages and materials pick up
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US business activity expanded in early August at the weakest pace in six months, inching closer to stagnation amid sluggish demand.
The S&P Global flash composite output index fell 1.6 points to 50.4 in August as manufacturing continued to shrink and services activity cooled, the group reported Wednesday. Readings above 50 indicate growth.