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Modest rate of US business activity growth sustained in October
Flash PMI data for October indicated a marginal increase in the rate of growth of business activity, supported by the fastest expansion of manufacturing production for six months. Growth of service sector activity also picked up, though rates of expansion in both sectors remained subdued. Adjusted for seasonal influences, the IHS Markit Flash U.S. Composite PMI Output Index reached 51.2 in October, up from 51.0 during September, to signal the sharpest increase in business activity since July. The latest reading pointed to another gradual recovery in output growth from the threeand-a-half year low seen in August. The ... (full story)
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