US composite factory output rises to a three-month high | World Business Watch
Edited By WION Video Desk
Published: Oct 24, 2023, 19:40 IST | Updated: Oct 24, 2023, 19:40 IST
After two months of stagnation, business activity in the United States improved in october because of a rise in industrial demand and a decrease in service-sector inflation. The S&P global flash composite production index rose to 51, its highest level in three months, just one point over the 50 threshold that separates growth from contraction. For the first time since april, factories saw an increase in new orders, while service providers saw an uptick in business. As inflationary pressures eased, the composite selling price index also dropped to a three-year low.
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