Indicators
US Business Activity Contracts for Fourth Month, Orders Shrink
- S&P Global’s October flash composite index drops to 47.3
- Outlook hits two-year low on inflation, demand concerns
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US business activity contracted in October for a fourth-straight month as concerns about inflation and sluggish demand weighed on the outlook.
The S&P Global flash composite purchasing managers output index decreased 2.2 points to 47.3, the group reported Monday. Readings below 50 indicate contraction.