Economics
U.S. Business Activity Gauge Cools in December, IHS Markit Says
- Flash composite index falls to 55.7 from best level since 2015
- Factory and services measures both signal activity moderated
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U.S. business activity grew at a slower pace in December as renewed closures to contain the pandemic sapped some momentum from service providers and manufacturers alike.
The IHS Markit flash composite index of purchasing managers at private-sector businesses slipped to 55.7 from November’s five-year high of 58.6, the data provider said Wednesday, mainly reflecting a cooling in services. The measure has held above 50, the line between expansion and contraction, for six months.