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12/5/2023, 3:46 PM (Source: TeleTrader)
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US business activity growth continues in November

The United States Services Business Activity Index rose moderately in comparison to the month before, coming in at 50.8 in November, S&P Global revealed in its final report on Tuesday. The figure went up by 0.2 index points on a monthly basis, with the upward movement linked to stronger demand.

The US PMI Composite Output Index, which takes both the services and the manufacturing business activity into account, was unchanged compared to the month before, landing at 50.7 in November.

"The latest PMI data point to a further cooling of inflation pressures, but the surveys also signal only modest economic growth and near-stagnant employment, with the risk of the expansion losing further momentum as we head towards 2024," S&P Global Market Intelligence Chief Business Economist Chris Williamson explained.

Baha Breaking News (BBN) / AB