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Challenging demand conditions and inflation concerns weigh on US private sector in October
Private sector firms in the US recorded a further downturn in output at the start of the fourth quarter, according to latest ‘flash’ PMI™ data from S&P Global. The fall in business activity was solid and stronger than that seen in September, as service providers signalled a quicker decline. Manufacturers, on the other hand, saw output rise for the second month running, albeit only marginally. The headline Flash US PMI Composite Output Index registered 47.3 in October, down from 49.5 in September. With the exception of the initial pandemic period, the rate of decrease was the second-fastest since 2009. New ... (full story)