A new report shows U.S. business activity growth slowed for a third straight month in August, weighed down by supply chain disruption, hiring woes, and softer consumer demand linked to the spread of the Delta variant of COVID-19.
Data firm IHS Markit said in an Aug. 23 report (pdf) that its flash U.S. Composite PMI Output Index, a combined measure that tracks both the manufacturing and services sectors, fell to 55.4 in August—the lowest reading since December 2020—from 59.9 in July.
