Services Sector

Neel Kashkari

2026-09-21 00:35:50

Kashkari says U.S. inflation has spread to services, with the Fed still needing to push prices lower

Minneapolis Federal Reserve President Neel Kashkari said U.S. inflation pressure is no longer confined to higher energy prices and has spread across multiple parts of the economy, especially services. He said the inflation Americans face is "far more than just oil prices" and that the Federal Reserve still needs to bring inflation back down to its 2% target. Kashkari also said the U.S. economy and labor market remain resilient, leaving the central bank with room to respond to persistent price pressure. He was one of three Fed officials who supported a rate hike in July, reflecting concern that if inflation lasts too long, policymakers may need to tighten more aggressively later. In September, the Fed raised rates by 25 basis points to 3.75%-4%, the first rate increase since 2023. Kashkari did not give a clear signal on the timing of the next hike, but said the Fed has a responsibility to act if inflation pressure continues to broaden.

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US Economy

2026-08-21 15:09:42

U.S. August composite PMI hits 56.0 as rate-cut expectations cool

S&P Global’s latest PMI survey showed U.S. business activity strengthened in August, with the composite output index rising to 56.0 from 54.5 in July, the highest reading since April 2022. The gain was driven by a stronger services sector, where the flash PMI climbed to 56.8 from 54.6, beating economists’ prior expectation of 54 and marking its highest level since December 2024. A PMI reading above 50 typically signals expansion. According to the data cited by BlockBeats, the release challenged Wall Street’s earlier expectation of cooling momentum and eased expectations for interest-rate cuts. S&P Global said the current third-quarter survey readings point to U.S. annualized economic growth approaching 3.0%, compared with 1.5% growth in the second quarter. The report also showed inflation pressures eased slightly in August, but growth in input costs and selling prices remained elevated. That leaves a mixed picture: stronger activity on one side, and persistent inflation risks on the other.

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S&P Global

2026-08-21 13:48:40

S&P Global says U.S. business growth hit a 52-month high in August

A report from S&P Global showed that U.S. business growth reached a 52-month high in August. The increase was mainly driven by a sharp rise in services activity and stronger optimism. The report also said price pressures eased. The update points to firmer business activity in the United States during the month, with the services sector acting as the main source of momentum. At the same time, easing price pressures were noted in the same report.

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ISM

2026-08-05 15:07:45

US ISM Services Index Rises to 54.1 in July as Costs Bite

The ISM services index edged up to 54.1 in July, keeping expansion intact. New orders and business activity strengthened, but the prices paid index jumped to 70.3, squeezing margins and potentially slowing hiring.

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China Economy

2026-07-04 04:15:42

China’s June Non-Manufacturing PMI Rises to 50.2, Supporting Risk Sentiment

China’s official June non-manufacturing PMI came in at 50.2, above the market expectation of 49.9 and marking the second consecutive month in expansion territory. The services sub-index improved to 50.4, with telecommunications, internet software, and IT services standing out as stronger segments. While real estate and construction remained in contraction, the broader reading suggested that parts of the Chinese economy are still showing resilience. For global markets, the data point matters because it helps improve near-term risk sentiment and may reduce perceived tail risks across risk assets, including crypto. The report was cited by Techub, referencing Cryptobriefing.

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