US Business Activity Hits Five-Year High in September
US business activity reached a five-year high in September driven by a surge in new orders across manufacturing and services. However, strong demand strained supply chains and pushed input prices higher.
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United States business activity accelerated to a more than five-year high in September, driven by a surge in new orders that strained supply chains and drove prices higher. The flash Composite PMI Output Index rose to 58.4 from 56.0 in August, according to data released on Wednesday. The expansion matches an annualized economic growth rate of 5%.
