- December 17, 2021
- Posted by: Stratford Team
- Category: Business
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Growth in U.S. business activity cooled to a still-solid pace in early December, while cost pressures intensified for service providers and eased somewhat for manufacturers.
The IHS Markit flash December composite purchasing managers index slipped 0.3 point to a three-month low of 56.9, the group reported Dec. 16. Readings above 50 indicate growth. The group’s gauge of manufacturing dropped to the lowest level of the year, while the services index fell to a three-month low.
The factory survey, however, showed production expanded at a faster pace while a measure of input costs fell by the most since April 2020. For service providers, costs grew at the fastest pace in data back to 2009, and the index of prices received ticked up to the second highest on record.
“Manufacturing output growth even picked up slightly amid a marked easing in the number of supply chain delays, which also…
