US Business Activity Accelerates, With New Orders Notching Biggest Gains So Far This Year

New orders surge to the fastest pace of 2025 as services drive U.S. growth, signaling solid late-year economic expansion.

Workers at the Kilbourne Graphite Project, a Titan Mining Corporation company, in Gouverneur, N.Y., on Nov. 6, 2025. Madalina Kilroy/The Epoch Times

U.S. business activity accelerated in November as new orders logged their strongest increase of the year, signaling resilient domestic demand even as manufacturers continue to wrestle with weakening exports, swelling inventories, and tariff-related cost pressures.

S&P Global’s flash composite PMI, released on Nov. 21, rose to 54.8 from 54.6, marking a four-month high and pointing to roughly 2.5 percent annualized GDP growth early in the fourth quarter.