US Sector PMI: Financials sector signals steepest growth

India Infoline News Service | Mumbai | October 07, 2017 10:12 IST

The US financials sector posted a steep rise in output in September, according to the latest US Sector PMI data.

Analytics graph
The US financials sector posted a steep rise in output in September, according to the latest US Sector PMI data from IHS Markit. The pace of expansion was the strongest since July 2014, and it was the highest ranking sector over the third quarter as a whole.

The technology sector continued to grow sharply, with growth accelerating for the second successive month. Notably, the upturn was the fastest in three years.

Following relatively moderate growth in August, the basic materials sector indicated a strong output expansion in September – the quickest since May.

Output growth in the industrials sector softened, however. The sector fell from the top-ranking to fifth in September, and was one of four sectors that experienced a weaker expansion.

Growth in both the consumer goods and healthcare sectors eased and was modest, meaning they were ranked the lowest of the seven monitored sectors. 

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