The S&P Global US Composite PMI came in at 56 in August 2026, unrevised from the preliminary estimate and above July's reading of 54.5. The data showed that private-sector growth accelerated for the third month in a row, reaching its highest level in 52 months. Services activity strengthened significantly, while manufacturing continued to expand, albeit at a slower pace. New orders increased at their fastest rate in 20 months. Employment growth also accelerated, reaching a 19-month high. Meanwhile, price pressures eased. Input-cost inflation fell to its lowest level since April 2025, while selling-price inflation slowed to a nine-month low. Business confidence, however, remained broadly unchanged from July.