According to Markit Economics, payroll numbers expand at slowest pace for 20 months Business expectations remain stronger than the survey-record low seen in June

U.S. service providers indicated another month of lacklustre growth in August, with business activity, new orders and employment all rising at a slower pace than in July. Survey respondents generally cited subdued underlying demand conditions and uncertainty ahead of the presidential election as factors that had dampened growth in August. Nonetheless, the balance of service sector firms expecting a rise in business activity over the year ahead remained well above the survey-record low seen in June.