US S&P Global Composite PMI Flash (Aug) 56.0 (Prev. 54.5)

"The survey data for the third quarter are currently pointing to annualized growth approaching 3.0%, up solidly from the 1.5% pace seen in the second quarter." "Jobs growth has also shown a welcome revival in August, with employers gaining in confidence as concerns fade over the negative economic impacts of tariffs and the conflict in the Middle East. However, the latter in particular remains a key area of concern for businesses, especially via the impact on supply lines and energy prices." "As reduced safety stock building and supply delays dampen factory production growth, the service sector is now playing a key role in driving a sustained US expansion, underscoring a dependency on consumer spending and financial services growth.”