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US: Stronger expansion in output, but demand remains fragile. Inflationary pressures at three-year low
US service providers signalled a marginal rise in business activity in October, with growth regaining some momentum following broadly unchanged output in September, according to the latest PMI® data from S&P Global. New orders fell again, albeit at a softer pace amid a renewed upturn in new business from abroad. Firms were hopeful of a pick up in demand conditions, however, as business confidence rose to the strongest in four months, encouraging service providers to expand their workforce numbers at a modest pace. Meanwhile, a relatively subdued sales environment led to reports of discounting in an effort to ... (full story)