WASHINGTON—A measure of U.S. business activity increased to an eight-month high in March, fueled by strong demand for both goods and services, but Russia’s war against Ukraine hurt sentiment.
S&P Global said on Thursday its flash U.S. Composite PMI Output Index, which tracks the manufacturing and services sectors, rose to a reading of 58.5 this month. That was the highest reading since July 2021 and followed 55.9 in February.
