US composite PMI hits 7-month high in January - Breaking The News

US composite PMI hits 7-month high in January

24 January

1 min read

EPA/JUSTIN LANE

The Flash United States PMI Composite Output Index, which takes both, the services and the manufacturing business activity into account, stood at 52.3 in January, climbing by 1.4 index points in comparison to the previous month and representing the highest reading in seven months, according to a preliminary report published by S&P Global on Wednesday.

In January, the Manufacturing PMI increased by 2.4 index points to stand at 50.3, the highest figure in 15 months, while the Services Business Activity Index landed at a seven-month high of 52.9, after increasing by 1.5 index points from the month prior. The Manufacturing Output Index improved by 0.6 index points to 48.7, hitting a two-month high.

"An encouraging start to the year is indicated for the US economy by the flash PMI data, with companies reporting a marked acceleration of growth alongside a sharp cooling of inflation pressures," S&P Global Market Intelligence's Chief Business Economist Chris Williamson noted.

data manufacturing services composite pmi omicron variant

Baker Hughes: US oil rig count down by 9 to 480

2 hours ago

The number of oil rigs in the United States stood at 480 in the week ending April 11, decreasing by nine from the week prior, according to the Baker Hughes weekly rig count released on Friday. On an annual basis, the number of oil rigs fell by 26.The US gas rig count increased by one to 97 during the same week, while it dropped by 12 compared to last year. The total number of rigs in the country currently stands at 583, decreasing by seven from last week and...

Russian inflation up from 10.1% to 10.3% in March

3 hours ago

The Russian Consumer Price Index (CPI) rose 10.3% year on year in March, according to a report by the country's statistical office Rosstat released on Friday. The figure is up from the inflation rate of 10.1% reported in February.Food prices rose 12.4% year on year, while non-food products prices increased 5.9% and services prices were up 12.8% on an annual basis.On a monthly basis, consumer prices increased by 0.65%. The Core CPI rose 9.6% on an annual basis...

US consumer confidence falls further in April

5 hours ago

Consumer sentiment in the United States continued to decline in April, according to a preliminary report published by the University of Michigan on Friday. The index slumped from 57.0 in March to 50.8 in April, falling short of forecasts. At the same time, the current economic conditions index went down from 63.8 in March to 56.5 in the present month, while the index of consumer expectations dropped from 52.6 in the previous month to 46.2 in April. "Consumer...

US producer prices down 0.4% in in March

6 hours ago

The United States producer price index (PPI) for final demand fell by 0.4% in March compared to the previous month, according to a report by the Bureau of Labor Statistics on Friday. Annually, producer prices rose by 2.7%.Over 70% of the monthly decrease can be traced to prices for final demand goods, which fell 0.9%, while the services PPI lost 0.2% in March. Producer prices excluding foods, energy, and trade services were up by 0.1% on a monthly basis and...

This website uses cookies to ensure you get the best experience. Our Terms of Use and Data Protection Policy explain the data we collect, why we collect them, and how we may share them.