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    Home » US Business Sector Activity Cools Moderately in Mid-November
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    US Business Sector Activity Cools Moderately in Mid-November

    March 3, 20221 Min Read
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    US business activity eased moderately in November amid persistent labor shortages and delays of raw materials, leading to increased prices.

    • IHS Markit’s flash US Composite PMI Output Index, which measures both the manufacturing and services sectors, dropped to a reading of 56.5 in mid-November from 57.6 in October.
    • The growth rate remains above the survey’s long-term pre-pandemic average and is in line with an economy that is recovering after a temporary slump in the summer.
    • The services sector contributed to the recovery in activity, with IHS Markit indicating some resistance to higher prices.
    • Chris Williamson, chief business economist at IHS Markit stated that the US economy continues to run hot, but cautioned that the economy is struggling to deal with ongoing supply-chain bottlenecks.

    The survey’s measure of prices paid by businesses for raw materials rose to 78.1. These higher prices are usually passed to the final consumers.

    DXY up +0.40%, EUR USD down -0.48%

    Source: IHS Markit

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