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You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/pmi-data-indicates-moderate-recovery-in-us-growth-2/" data-wpel-link="internal">PMI Data Indicates Moderate Recovery in US Growth</a> 
Volatility in <a href="https://en.coin-turk.com/bitcoin-and-altcoin-market-predictions-analysts-share-their-insights/" data-wpel-link="internal">cryptocurrencies</a> continues to increase in light of macroeconomic data, with a prevailing downward trend. The PMI data, which signals the current state of the US economy, has now been released. Let’s quickly evaluate both the <a href="https://newslinker.co/can-artificial-intelligence-achieve-consciousness/" target="_blank" rel="noopener" data-wpel-link="exclude">latest data</a> and the market impact of the incoming PMI figures. 
<h2 style="text-align: justify" id="us-pmi-data">US PMI Data</h2> 
The PMI data, short for Purchasing Managers’ Index, tells us the state of the economy in the relevant area. Purchasing managers are the personnel who best know the demand for products and services in <a href="https://finance.coin-turk.com/" data-wpel-link="exclude">companies</a>. For example, think about the company you work for; the purchasing manager there buys more raw materials, services, etc., as the company grows. Or if there is a contraction in the sector where your company operates, the scale of expenditures also contracts proportionally. 
PMI data is published monthly for different sectors and reveals whether the sectors are growing, shrinking, or neutral. Figures above 50 indicate that growth is continuing, even if moderately, while figures below reflect contraction in the sector. For a clear idea, similar data needs to be observed for three consecutive months. 
Today’s data and the predicted figures were as follows: 
<ul style="text-align: justify"> 
 <li>US S&amp;P Services PMI (Expectation: 55.1 Previous: 55.2) Announced: 55.7</li> 
 <li>US S&amp;P Composite PMI (Expectation: 54 Previous: 54.1) Announced: 54.6</li> 
</ul> 
Important parts of the report details are as follows: 
<blockquote> 
 “Despite strong improvements in both activities and new businesses, the first decline in employment in three months in August was disappointing on the employment front. However, the decrease in personnel levels remained modest. Participants mostly reported that replacements were not hired due to cost concerns.” 
</blockquote> 
<figure id="attachment_386159" aria-describedby="caption-attachment-386159" style="width: 100%" class="wp-caption aligncenter">
 <img loading="lazy" loading="lazy" decoding="async" class="wp-image-386159 size-full" src="https://coin-turk.com/wp-content/uploads/2024/09/SP-Kuresel-ABD-Hizmetler-Is-Faaliyetleri-Endeksi.png" alt="" width="822" height="442">
 <figcaption id="caption-attachment-386159" class="wp-caption-text">
 S&amp;P Global US Services Business Activity Index
 </figcaption>
</figure> 
According to the data, there is a moderate recovery in US growth. This situation weakens recession concerns and may push the Fed not to further strain employment. For cryptocurrencies, a recession would be a bad environment, so the data can be considered positive. 
The post <a href="https://en.coin-turk.com/pmi-data-indicates-moderate-recovery-in-us-growth-2/" data-wpel-link="internal">PMI Data Indicates Moderate Recovery in US Growth</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.

PMI Data Indicates Moderate Recovery in US Growth

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