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US business activity growth ticks higher in December
US businesses signalled a slightly stronger close to 2023 as activity rose at the fastest pace for five months in December. The quicker upturn in output was supported by the sharpest increase in new orders since July. Nonetheless, rates of expansion remained historically subdued as firms continued to highlight challenges stimulating demand. Growth was driven by the service sector, as manufacturers registered a further downturn in new orders and a renewed drop in production. Meanwhile, cost pressures gained momentum as input prices increased at the quickest pace since September. Although firms continued to pass ... (full story)
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