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The Economic Times

National / The Economic Times

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Strong demand boosts US services sector activity in August

U.S. services sector activity grew in August, with new orders reaching a 3-1/2-year high. Input prices also increased, suggesting inflation may remain elevated for some time. Strong domestic demand, partly fueled by artificial intelligence spending, is driving these trends. Despite order surges, services employment remained subdued due to policy uncertainty. Financial markets anticipate a potential Federal Reserve interest rate hike later this year.

3 Sep 2026 8:35 pm