https://www.cnbc.com/2024/03/22/cnbc...from-over.html
U.S. business activity appears to show strength amid inflationary pressures.
The latest S&P Global Flash U.S. Composite gauge showed manufacturing expanded by the most since mid-2022 as the index ticked higher by 0.3 point to 52.5 in March.
The reading points to a solid improvement in the health of the sector and marks the third straight month of expansion. A reading above 50 signals expansion while anything below the level indicates contraction.
"The brightest news came from the manufacturing sector, where production is now growing at the fastest rate since May 2022," said Chris Williamson, chief business economist at S&P Global Market Intelligence.
"Production gains are linked to improving demand for goods both at home and abroad, driving a further upturn in business confidence in the outlook."
Price pressures also showed signs of picking up as firms increased their selling prices to the largest extent since April last year.
"Costs have increased on the back of further wage growth and rising fuel prices, pushing overall selling price inflation for goods and services up to its highest for nearly a year," said Williamson.
"The steep jump in prices from the recent low seen in January hints at unwelcome upward pressure on consumer prices in the coming months."
This reflects the battle against inflation is far from over.
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