U.S. business activity rose to a 20-month high in October, although the rate of new business growth and new orders eased slightly, in part driven by political uncertainty ahead of the Nov. 3 presidential election and concerns about the CCP (Chinese Communist Party) virus outbreak.
Data firm IHS Markit said on Oct. 23 its flash U.S. Composite PMI Output Index (pdf), which tracks the manufacturing and services sectors, rose to a reading of 55.5 this month—the highest reading since February 2019.
