Economics
U.S. Business Activity Expands Most Since 2015, IHS Markit Says
- Gain in composite index reflects factory, services strength
- U.S. figures contrast with faster contraction in euro area
Photographer: Emily Elconin/Bloomberg
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U.S. business activity powered ahead in November at the fastest pace since March 2015, with stronger growth at service providers and manufacturers highlighting broad momentum in an economy challenged by the coronavirus resurgence.
The IHS Markit flash composite index of purchasing managers at manufacturers and service providers increased to 57.9 from 56.3, the company reported Monday. Readings above 50 indicate growth and the figure stands in stark contrast to the euro area, where activity shrank as governments tightened restrictions to contain a surge in infections.