(CercleFinance.com) – The growth of private sector activity in the United States accelerated in October according to IHS Markit, its composite PMI index coming out at 57.3 in ‘flash’ estimate, after 55.0 in final data for the month of september.
For the record, it is the threshold of 50 that separates the expansion and contraction of activity in the sector for the PMI indices: the higher the index is above this threshold, the higher the pace of expansion.
‘The economy is accelerating despite traffic jams, as services recover from the delta wave, but prices are rising at a record rate,’ IHS Markit points out, adding that private sector growth remains well below that of ‘one year ago.
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