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US: Strongest improvement in manufacturing performance since September 2022
The opening month of 2024 saw an improvement in the health of the US manufacturing sector for the first time since April 2023, according to the latest PMI® survey data from S&P Global. Although only marginal, overall growth was supported by a return to expansion in new orders and a slower contraction in output. Production was reportedly hampered, however, by a renewed decline in supplier performance and longer input deliveries. Greater transportation costs pushed input prices higher on the month, with cost inflation hitting a nine-month high. In response, firms hiked their selling prices at the fastest rate ... (full story)