Economic Activity Continues to Grow in the USA

Economic Activity Continues to Grow in the USA Economic activity in the USA continues to grow. Combined activities in the country PMI increased to 54.4 in September and continued its course in the growth zone. Business activity in the United States displayed a better outlook in September compared to European countries. In addition, this data also pointed to a solid rise in the economy in the third quarter of 2020. The composite purchasing managers index (PMI) of manufacturers and service providers in the US fell slightly to 54.4 in September, after reaching a 17-month high at 54.6 in the previous month. This data exceeding the 50 level gives a message of growth in the sector and indicates that the situation is better than the data that is very close to the 50 level in Europe. IHS Markit chief economist Chris Williamson said: "US data support the signs that the economy is bouncing in the third quarter after the decline in the second quarter," and commented, "But risks are still trending down in the coming months." The manufacturing sector purchasing managers index (PMI) rose to 53.5 in line with the expectations in the aforementioned period and has been at its peak since January 2019, while the service PMI decreased to 54.6.