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US business activity growth accelerates to seven-month high in January
The US services economy signalled a stronger start to the year as business activity expanded at the fastest pace since June 2023, according to the latest PMI® data from S&P Global. Contributing to the upturn was a quicker rise in new orders. Improved demand conditions were reported in the domestic market, but new export orders also increased, rising at the steepest rate since August 2023. Subsequently, firms expressed increased optimism regarding the outlook for output over the next year, and continued to expand their staffing numbers. This was also in response to renewed pressure on capacity, as backlogs of work ... (full story)