U.S. flash services PMI index rises slightly in September

U.S. services PMI index rose slightly in September, but remains low. On a seasonally adjusted basis, the flash U.S. services PMI Business Activity Index rose marginally to 50.9 from August’s 50.7; however, still one of the lowest readings seen in the past three-and-a-half years.

The latest data showed the slowest rise in new work since the survey started in October 2009. Weak demand resulted in more rapid fall in volumes of unfinished work and a reduction in employment numbers for the first time in just under ten years.

The data for September indicated to some relief from margin pressures as input costs fell to the greatest extent since the survey started in late-2009, although the effect was restricted by another slight reduction in average prices charged by service providers.