US Business Activity Moderates as the Service Sector Cools
- S&P Global flash composite gauge falls to 17-month low
- Manufacturing industry shows growth for second month
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US business activity expanded this month at the slowest pace since September 2023, dragged down by the service sector.
The S&P Global preliminary February composite index for services and manufacturers decreased to 50.4, the lowest level in 17 months, as uncertainty around the Trump administration’s policies weighed on orders and business expectations. Figures above 50 indicate expansion.