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U.S. Business Activity Softens Though Supply Snags Begin Easing

  • IHS Markit prelim. Dec. composite gauge at three-month low
  • Input prices cool for manufacturers, jump for services

Growth in U.S. business activity cooled to a still-solid pace in early December, while cost pressures intensified for service providers and eased somewhat for manufacturers. 

The IHS Markit flash December composite purchasing managers index slipped 0.3 point to a three-month low of 56.9, the group reported Thursday. Readings above 50 indicate growth. The group’s gauge of manufacturing dropped to the lowest level of the year, while the services index fell to a three-month low.