The activity in the services sector in the United States rebounded slightly in September as the country started to gradually lift coronavirus restrictions but still remained in contraction territory, according to a report by S&P Global released on Wednesday. The seasonally adjusted final S&P Global US Services PMI Business Activity Index stood at 49.3, rising from 43.7 recorded a month earlier and up from the flash estimate of 49.2.
"With service sector activity declining for a third straight month in September, businesses have faced a tough third quarter. Economic growth has come under pressure from falling output in both the manufacturing and service sectors, though in both cases September has seen some encouraging signals that business conditions may be starting to improve," Chris Williamson, chief business economist at S&P Global Market Intelligence, stated.
The S&P Global US Composite PMI Output Index rose from 44.6 in August to 49.5 in September.
