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S&P Global's Flash PMI data for August signals the continued divergence between US manufacturing (slump) and Services (survive).

• Flash US Services Business Activity Index at 55.2 (July: 55.0) – 2-month high.

• Flash US Manufacturing Output Index at 47.8 (July: 50.5) – 14-month low.

• Flash US Manufacturing PMI at 48.0 (July: 49.6) – 8-month low.

And all that as 'hard' macro data is collapsing…

Source: Bloomberg

Commenting on the data, Chris Williamson, Chief Business Economist at S&P Global Market Intelligence said:

Finally, as the chart at the top shows, we've seen this kind of divergence before and it did not end well for Services.