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U.S. Business Activity Bounces Back While Inflation Intensifies

  • IHS Markit composite measure rose in early February to 56
  • Gauge of prices charged for goods, services at record high

U.S. business activity bounced back in early February from an 18-month low as a decline in Covid-19 cases rejuvenated demand, while inflationary pressures intensified.

The IHS Markit flash composite purchasing managers index advanced 4.9 points to 56, the group reported Tuesday. In January, the measure faltered as the omicron variant restrained activities and exacerbated worker shortages. Readings above 50 indicate growth.