US Business Growth Surges to Fastest Rate Since Post-COVID
S&P Global reports US business activity grew at fastest pace in five years, driven by service and manufacturing expansion.
In brief
S&P Global reports US business activity grew at fastest pace in five years, driven by service and manufacturing expansion. US business activity expanded at the fastest rate since July 2021, with service sector output rising at the steepest pace in over five years. Originally reported by Pymnts.
US Business Growth
U.S. business activity grew fastest in five years in September.
PMI Composite Index
The index rose from 56.0 to 58.4, marking fourth consecutive month of acceleration.
Service Sector Surge
Service sector output rose at steepest rate in over five years.
Manufacturing Boost
Manufacturing output accelerated fastest since April 2022.
New Orders Rise
Service new orders reached highest pace since March 2022.
Economist Insight
Chris Williamson says growth is greatest since early 2015 without post-covid spike.
Here's the gist
US business activity expanded at the fastest rate since July 2021, with service sector output rising at the steepest pace in over five years.
