In April, US business activity slowed to a four-month low due to weaker demand, with the S&P Global flash US Composite PMI Output Index falling to 50.9.
In April, US business activity slowed to a four-month low due to weaker demand, impacting both the manufacturing and services sectors. The S&P Global flash US Composite PMI Output Index fell to 50.9 from 52.1 in March, indicating a contraction in the private sector. Inflation eased slightly despite rising input prices, providing some relief as the Federal Reserve looks for signs that the economy is cooling enough to reduce inflation further. The US continues to outperform its global peers, despite interest rate hikes from the Federal Reserve since March 2022.
April 23, 2024
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