America’s Business Activity Slump Deepens as Manufacturing and Services Contract More Than Expected

Business activity in the United States fell in November for the fifth consecutive month, with the manufacturing and service sectors registering declines according to a recent report by S&P Global.
The Flash US PMI Composite Output Index was at 46.3 in November, down from 48.2 at the beginning of the fourth quarter, according to a Nov. 23 news release by S&P. This was the “sharpest” rate of contraction since August this year and the quickest since 2009. Levels above 50 indicate an improvement while levels below 50 indicate a contraction. The market consensus was for the Composite PMI to decline only to 47.7 for the month according to data from FX Street….

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