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US flash business-activity index reaches five-year high
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New orders lift the preliminary index as cost pressures increase
S&P Global’s preliminary US composite purchasing managers’ index rose to 58.4 in September from 56.0 in August, its highest reading since July 2021. New orders strengthened across manufacturing and services, while the input-price index climbed to 66.4 from 59.9 and reported delivery delays became more widespread. Readings above 50 indicate expansion, but this survey is neither a direct measurement of economic output nor a consumer-inflation gauge; S&P Global’s roughly 5% annualized growth estimate is an interpretation of the survey.
US business activity at more than five-year high; inflation pressures building