The US private sector saw its growth significantly accelerate in March, according to S&P Global, whose composite PMI index stood at 53.3 in flash estimate, a 10-month high, after climbing to 50.1 the previous month.
For the record, it is the threshold of 50 that separates the expansion and contraction of a sector’s activity for the PMI indices: the higher the index is above this threshold, the faster the pace of expansion. .
“Production has seen solid growth as demand conditions have improved and new orders have returned to growth,” says S&P Global, which also points to an acceleration in selling price inflation.
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