US Business Activity Unexpectedly Jumps, Risking More Inflation
- S&P Global composite measure rose to 11-month high in April
- Firms increased prices at fastest pace in seven months
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US business activity unexpectedly climbed this month to nearly a one-year high, bolstered by stronger services and manufacturing that threatens to reignite inflationary pressures.
The S&P Global flash April composite purchasing managers index rose 1.2 points to 53.5 - the highest since May - the group reported Friday. Readings above 50 indicate expansion, and the gauge has now exceeded that threshold for three months after contracting through the back half of last year.