US Business Activity Accelerates to Fastest Pace in 10 Months
- S&P Global March composite measure rises to 53.3 from 50.1
- Gauge of prices received by services hits a five-month high
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US business activity expanded this month at the fastest pace in nearly a year, driven by solid demand for services that allowed those firms greater leeway to boost prices.
The S&P Global flash March composite purchasing managers index rose 3.2 points to 53.3, the group reported Friday. Readings above 50 indicate expanding output. A gauge of prices charged by service providers increased to a five-month high.