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Notizie economiche
24.10.2024

U.S. private sector business activity continues to grow in October, - S&P Global’s survey

Preliminary data released by S&P Global on Thursday showed that U.S. private sector business activity expanded in early October at a marginally quicker pace than in the previous month, reflecting slightly faster growth in the services sector and slower contraction in manufacturing.

According to the report, S&P Global flash U.S. Composite Purchasing Manager's Index (PMI) Output Index came in at 54.3 early this month, slightly up from 54.0 in September. The latest reading signalled a sustained solid expansion of business activity at the start of the fourth quarter.

A reading above 50 signals an expansion in activity, while a reading below this level signals a contraction.

S&P Global flash services PMI checked in at 55.3 in October, slightly up from 55.2 in September. The latest reading represents the rate of expansion, which has been exceeded only once over the past two-and-a-half years by that recorded in August. 

Meanwhile, S&P Global flash manufacturing PMI improved to 47.8 in October from 47.3 in the previous month. The latest print pointed to a contraction in business conditions within the goods-producing sector for a fourth straight month but with the rate of deterioration moderating to the slowest since August

Economists had expected the manufacturing PMI to rise to 47.5.

S&P Global noted that new orders for goods and services rose at the sharpest rate for 17 months, reflecting higher sales and stronger demand. Meanwhile, employment fell slightly for a third straight month amid uncertainty ahead of the Presidential Election in the U.S. On the price front, rates of inflation for input costs and prices charged slowed in October, with the latter decreasing especially sharply - to the lowest since May 2020. 

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