{"id":71421,"date":"2026-09-04T10:38:15","date_gmt":"2026-09-04T14:38:15","guid":{"rendered":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-economic-growth-diversifies-beyond-ai-as-canadas-pmi-hits-four-year-high\/71421\/"},"modified":"2026-09-04T10:38:15","modified_gmt":"2026-09-04T14:38:15","slug":"us-economic-growth-diversifies-beyond-ai-as-canadas-pmi-hits-four-year-high","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-economic-growth-diversifies-beyond-ai-as-canadas-pmi-hits-four-year-high\/71421\/","title":{"rendered":"US Economic Growth Diversifies Beyond AI as Canada\u2019s PMI Hits Four-Year High"},"content":{"rendered":"<div id=\"ez-toc-container\" class=\"ez-toc-v2_0_86 counter-hierarchy ez-toc-counter ez-toc-grey ez-toc-container-direction\">\n<div class=\"ez-toc-title-container\">\n<p class=\"ez-toc-title\" style=\"cursor:inherit\">Table of Contents<\/p>\n<span class=\"ez-toc-title-toggle\"><a href=\"#\" class=\"ez-toc-pull-right ez-toc-btn ez-toc-btn-xs ez-toc-btn-default ez-toc-toggle\" aria-label=\"Toggle Table of Content\"><span class=\"ez-toc-js-icon-con\"><span class=\"\"><span class=\"eztoc-hide\" style=\"display:none;\">Toggle<\/span><span class=\"ez-toc-icon-toggle-span\"><svg style=\"fill: #999;color:#999\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" class=\"list-377408\" width=\"20px\" height=\"20px\" viewBox=\"0 0 24 24\" fill=\"none\"><path d=\"M6 6H4v2h2V6zm14 0H8v2h12V6zM4 11h2v2H4v-2zm16 0H8v2h12v-2zM4 16h2v2H4v-2zm16 0H8v2h12v-2z\" fill=\"currentColor\"><\/path><\/svg><svg style=\"fill: #999;color:#999\" class=\"arrow-unsorted-368013\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"10px\" height=\"10px\" viewBox=\"0 0 24 24\" version=\"1.2\" baseProfile=\"tiny\"><path d=\"M18.2 9.3l-6.2-6.3-6.2 6.3c-.2.2-.3.4-.3.7s.1.5.3.7c.2.2.4.3.7.3h11c.3 0 .5-.1.7-.3.2-.2.3-.5.3-.7s-.1-.5-.3-.7zM5.8 14.7l6.2 6.3 6.2-6.3c.2-.2.3-.5.3-.7s-.1-.5-.3-.7c-.2-.2-.4-.3-.7-.3h-11c-.3 0-.5.1-.7.3-.2.2-.3.5-.3.7s.1.5.3.7z\"\/><\/svg><\/span><\/span><\/span><\/a><\/span><\/div>\n<nav><ul class='ez-toc-list ez-toc-list-level-1 eztoc-toggle-hide-by-default' ><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-1\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-economic-growth-diversifies-beyond-ai-as-canadas-pmi-hits-four-year-high\/71421\/#Key_Takeaways\" >Key Takeaways<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-2\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-economic-growth-diversifies-beyond-ai-as-canadas-pmi-hits-four-year-high\/71421\/#Broad-Based_US_Growth_and_AI_Integration\" >Broad-Based US Growth and AI Integration<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-3\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-economic-growth-diversifies-beyond-ai-as-canadas-pmi-hits-four-year-high\/71421\/#Federal_Reserve_Independence_and_Energy_Policy\" >Federal Reserve Independence and Energy Policy<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-4\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-economic-growth-diversifies-beyond-ai-as-canadas-pmi-hits-four-year-high\/71421\/#Geopolitical_Tensions_Impacting_Global_Airspace\" >Geopolitical Tensions Impacting Global Airspace<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-5\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-economic-growth-diversifies-beyond-ai-as-canadas-pmi-hits-four-year-high\/71421\/#Canadian_Economic_Activity_Accelerates\" >Canadian Economic Activity Accelerates<\/a><\/li><li class='ez-toc-page-1 ez-toc-heading-level-2'><a class=\"ez-toc-link ez-toc-heading-6\" href=\"#\" data-href=\"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/us-economic-growth-diversifies-beyond-ai-as-canadas-pmi-hits-four-year-high\/71421\/#Energy_Markets_and_Supply_Chain_Stability\" >Energy Markets and Supply Chain Stability<\/a><\/li><\/ul><\/nav><\/div>\n<h2><span class=\"ez-toc-section\" id=\"Key_Takeaways\"><\/span>Key Takeaways<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<ul>\n<li><strong>Canada\u2019s Ivey PMI surged to 64.3 in August<\/strong>, far exceeding expectations of 56.2 and marking a significant acceleration from July&#39;s 55.1 reading.<\/li>\n<li><strong>Treasury Secretary Scott Bessent<\/strong> stated that recent jobs data confirms the US economy is being driven by broad-based growth, not just the <strong>artificial intelligence (AI)<\/strong> building boom.<\/li>\n<li><strong>NEC Director Kevin Hassett<\/strong> clarified that <strong>Donald Trump<\/strong> is not providing advice to the <strong>Federal Reserve<\/strong>, while predicting that a pending <strong>Venezuela deal<\/strong> will have an immediate cooling effect on energy prices.<\/li>\n<li><strong>Russia<\/strong> condemned Ukrainian drone activity as &quot;reckless,&quot; claiming it misrepresents the safety of Russian airspace for commercial carriers.<\/li>\n<li><strong>Oil market monitoring<\/strong> remains a priority for the White House, with officials tracking refined product prices and tanker movements through the <strong>Strait of Hormuz<\/strong>.<\/li>\n<\/ul>\n<h2><span class=\"ez-toc-section\" id=\"Broad-Based_US_Growth_and_AI_Integration\"><\/span>Broad-Based US Growth and AI Integration<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>Treasury Secretary <strong>Scott Bessent<\/strong> emphasized in a recent interview with <em>Real America\u2019s Voice<\/em> that the US labor market remains resilient due to factors beyond the technology sector. While acknowledging the transformative power of <strong>AI<\/strong>, Bessent noted that the current &quot;blockbuster&quot; economic trajectory is supported by manufacturing reshoring and small business startups. He previously highlighted at the <strong>G20<\/strong> meeting in Asheville that <strong>AI<\/strong> tools are actually lowering the barrier to entry for entrepreneurs, allowing smaller teams to achieve the productivity of much larger firms.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Federal_Reserve_Independence_and_Energy_Policy\"><\/span>Federal Reserve Independence and Energy Policy<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>National Economic Council (NEC) Director <strong>Kevin Hassett<\/strong> addressed concerns regarding executive influence on monetary policy, stating that <strong>Donald Trump<\/strong> is not providing advice to the <strong>Federal Reserve<\/strong>. Hassett\u2019s comments come as the administration focuses on lowering consumer costs, specifically through energy negotiations. He indicated that the US will feel the impact of a <strong>Venezuela deal<\/strong> &quot;immediately,&quot; as the administration seeks to increase global supply and counter elevated prices for refined products like gasoline and diesel.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Geopolitical_Tensions_Impacting_Global_Airspace\"><\/span>Geopolitical Tensions Impacting Global Airspace<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The conflict between <strong>Russia<\/strong> and <strong>Ukraine<\/strong> has escalated into a dispute over civil aviation safety. <strong>Russia<\/strong> labeled Ukrainian warnings to airlines as &quot;reckless&quot; and legally baseless, following President <strong>Volodymyr Zelenskyy\u2019s<\/strong> assertion that Russian airspace is becoming unsafe due to large-scale drone operations. This geopolitical friction continues to cause structural distortions in global aviation, forcing carriers to reroute and increasing operational costs for international flights.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Canadian_Economic_Activity_Accelerates\"><\/span>Canadian Economic Activity Accelerates<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>In North America, the <strong>Canada Ivey PMI<\/strong> provided a major upside surprise, jumping to <strong>64.3<\/strong> in August. This figure represents a more than four-year high for the index, which measures month-to-month variation in economic activity. The data suggests that despite global inflationary pressures, the Canadian economy is experiencing a robust expansion in purchases, employment, and inventories, significantly outperforming market forecasts.<\/p>\n<h2><span class=\"ez-toc-section\" id=\"Energy_Markets_and_Supply_Chain_Stability\"><\/span>Energy Markets and Supply Chain Stability<span class=\"ez-toc-section-end\"><\/span><\/h2>\n<p>The White House continues to monitor critical energy corridors, with <strong>Hassett<\/strong> discussing the ongoing surveillance of oil transportation through the <strong>Strait of Hormuz<\/strong>. While refined product prices remain elevated, officials expressed optimism that stabilizing shipping routes and finalizing international energy agreements will eventually lead to a &quot;tumbling&quot; of prices at the pump. The administration is reportedly in constant communication with major energy firms to streamline regulations and boost domestic production to ensure long-term energy security.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Key Takeaways Canada\u2019s Ivey PMI surged to 64.3 in August, far exceeding expectations of 56.2 and marking a significant acceleration 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