U.S. business activity accelerated in October even as consumers turned slightly more downbeat, a split tone that points to steady corporate output and fragile household confidence amid lingering inflation pressures and the ongoing federal government shutdown.
S&P Global’s flash U.S. Composite Purchasing Managers’ Index (PMI), released on Oct. 24, rose to 54.8 in October from 53.9 in September, marking the strongest pace of growth since July. Readings above 50 indicate expansion, with the October reading suggesting a quickening of economic activity heading into the final quarter of the year.
