U.S. services business activity index in September was worse than forecast

The September index, which measures business activity in the U.S. services sector, fell to 52.6 points from 56.4 points a month earlier. This low index has not been observed in the United States for three years. Analysts expected the PMI to fall, but not as much. According to their forecast, in September the index was to fall to the mark of 55 points. All three major sub-indexes also showed negative dynamics. The indicator describing the situation with new orders decreased by 6.6 points to 53.7 points. Podindex, which measures business activity in the services sector, fell 6.3 points to 55.2 points. And the employment indicator fell by 2.7 points to 50.4 points. Published indicators indicate that the problems in trade relations with China did not pass by the American economy. There are already signs of their negative consequences. Services account for approximately 90 per cent of united States gross domestic product.