Markit's flash US services PMI beats expectations in September

Markit’s flash US services purchasing managers’ index printed at 51.9 in September from 51.0 in August, beating expectations for a reading of 51.1.

This marked the fastest monthly rise in activity since April, albeit still relatively modest.

Adjusted for seasonal influences, the flash US Composite PMI Output Index ticked up to 52.0 in September from 51.5 in August.

Chris Williamson, chief economist at Markit, said: “The service sector sent mixed signals in September, with faster growth of activity during the month offset by gloomy forward-looking indicators.

“Although business activity showed the largest monthly rise since April, inflows of new business slowed and employment growth was the weakest for three-and-a-half years. A drop in optimism about the year ahead to a near post-crisis low meanwhile cast a shadow over the outlook.”