Photo by Benjamin Child
The S&P Global flash U.S. Composite PMI Output Index surged to 55.3 in November, marking a significant rise from October’s reading of 54.1 and reaching its highest level in 31 months. This increase suggests that economic growth likely accelerated in the fourth quarter of 2024, as reported on November 22, 2024.
According to S&P Global, the flash U.S. Services PMI Business Activity Index also climbed to 57.0, up from 55.0 in October, indicating robust growth in the services sector. The data reflects a broad-based expansion across various industries, with both manufacturing and services showing positive momentum.
Market reactions to the data were positive, with U.S. stocks opening higher as investors responded to the encouraging economic indicators. The optimism surrounding deregulation and potential fiscal policies under the current administration has also fueled expectations for continued growth.
This surge in business activity comes amid ongoing discussions about inflation and monetary policy adjustments by the Federal Reserve. Economists are closely monitoring these developments as they could influence future interest rate decisions.
For further details, refer to the original article on Reuters.
Sources:
[1] https://www.census.gov/economic-indicators/
[2] https://www.pmi.spglobal.com/Public/Home/PressRelease/7c0f490250264deba7b64595935c501a
[3] https://finance.yahoo.com/news/us-consumer-sentiment-rises-less-150000071.html
[4] https://english.kontan.co.id/news/us-business-activity-gauge-rises-to-31-month-high-in-november
[5] https://www.reuters.com/markets/us/us-business-activity-gauge-rises-31-month-high-november-2024-11-22/
[6] https://www.fidelity.com/news/article/top-news/202411220633RTRSNEWSCOMBINED_KBN3CN0U7-OUSBS_1
[7] https://www.reuters.com/business/finance/new-york-fed-paper-challenges-notion-discount-window-stigma-2024-11-22/
[8] https://www.zawya.com/en/capital-markets/equities/us-stocks-open-higher-adding-to-weekly-gains-m4afiqvj
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