U.S. private sector businesses registered a surveyrecord expansion of output during April, as looser COVID-19 restrictions and strong client demand boosted business activity. A steep upturn in manufacturing production occurred despite unprecedented supply chain disruptions, while services activity growth hit a new high. Adjusted for seasonal factors, the IHS Markit Flash U.S. Composite PMI Output Index posted 62.2 in April, up from 59.7 in March, to reach the highest since data collection began in October 2009. The overall upturn was supported by quicker increases in services and manufacturing output amid looser ... (full story)