Business activity in the United States contracted for the seventh consecutive month in January, with both manufacturing and service sectors remaining in the red for the month, suggesting a downturn in economic activity. The S&P Flash U.S. PMI Composite Output Index for January came in at 46.6, up from 45 at the end of 2022,…
Inflationary Pressures Cool U.S. Private Sector Expansion: S&P Global
American business activity slowed down in May as higher prices reduced demand for services, while lockdowns in China and the ongoing conflict in Ukraine caused chaos in the supply chains. S&P Global released its May U.S. Composite PMI Output Index survey on May 24, which tracks the manufacturing and services sector throughout the country. The index fell…
US Flash PMI Rises in April, Inflationary Pressures Weigh Down on Businesses
Private sector output rose in the United States in April while companies shifted the burden of surging costs and higher wages onto customers, according to S&P. The S&P Global Flash U.S. Manufacturing Purchasing Managers Index (PMI) rose slightly to 59.7 in April from 58.8 in March, which signaled a “marked improvement” in operating conditions in the…
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