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US manufacturing sector returns to growth and business confidence surges
The start of the new year saw a renewed expansion in the US manufacturing sector amid a surge in confidence. Both output and new orders returned to growth in January, while optimism in the year-ahead outlook for production hit a 34-month high. At least part of the jump in confidence and more buoyant demand picture reflected a sense among firms that business conditions will improve under President Trump. Meanwhile, input costs continued to increase sharply, leading the pace of output price inflation to accelerate for the third month running to reach the highest since March 2024. The seasonally adjusted S&P Global US ... (full story)