Strong demand lifts US services activity and new orders in August
US services activity picked up in August as strong demand lifted new orders to a 3-1/2-year high and drove input prices higher, suggesting inflation could stay elevated and prompting expectations for a Fed hike before year-end.
U.S. services sector activity picked up in August as strong demand lifted new orders to a 3-1/2-year high and drove input prices higher, suggesting inflation could remain elevated and compel the Federal Reserve to hike interest rates before the end of this year.The Institute for Supply Management s…