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 manufacturing sector, an April 22 press release said.
The S&P Global Flash U.S. Services Business Activity Index fell from 58 in March to 54.7 in April. The headline Flash U.S. PMI Composite Output Index declined to 55.1 in April from 57.7 last month. Readings above 50 indicate growth in business activity while those below the level signal contraction.
…