U.S. consumer services output growth accelerates strongly in September 2019

U.S. consumer services topped the output ranking table in September for the first time since December 2018, showed the U.S. Sector PMI. Companies throughout the sector hinted at a solid growth in business activity that was the sharpest in 2019 so far.

However, industrials companies showed no change in output in September. The respective seasonally adjusted index posted at the 50 neutral mark, which was the lowest figure since March 2016.

Consumer goods also recorded a more rapid upturn in production in September, with the pace of growth accelerating to a seven month high. The rise was strong overall. In the meantime, the basic materials sector also recorded a more rapid rise in output at the end of the third quarter. Although just marginal overall, the upturn was the most rapid since May.

The financials sector also hinted at a pick-up in growth momentum, which indicated a moderate growth in business activity in September. Meanwhile, healthcare firms noted a slight rebound in output growth. However, the rise in activity was just marginal and the second-softest since December 2017.

On the contrary, technology companies hinted the slowest growth in the current three-month sequence of growth.