US Business Activity Contracts for a Fifth-Straight Month
- S&P Global composite gauge is second weakest since 2020
- Orders measures for factories, service providers slide
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US business activity contracted in November for a fifth month as demand faltered, while inflationary pressures continued to slowly ease.
The S&P Global flash November composite purchasing managers’ index slid about 2 points to 46.3, the second-lowest level since the immediate aftermath of the pandemic, the group reported Wednesday. Readings below 50 indicate shrinking activity and the latest print was among the worst in data back to 2009.