In February, there was a noticeable cooling in the United States’ business activity. Moreover, the measure of prices paid for inputs experienced a significant drop, reaching the lowest level in nearly three and a half years. This development helped alleviate concerns about price pressures. S&P Global, a prominent global financial services company, reported that the U.S. Manufacturing Composite PMI (Purchasing Managers’ Index) saw a decrease. This index, which is a key indicator of the health of the manufacturing and services sectors, fell to 51.4 this month, down from 52 in January. It’s important to note that a reading above 50 on this index signifies expansion in the private sector. It was the services sector that was primarily responsible for the moderation in business activity. In contrast, manufacturing activity saw a surge, reaching its highest point in 17 months.Photo Ap, with information from Reuters
US Business Activity Experiences Decline
