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US: Flash PMI signals slower business growth in December as prices spike higher
US business activity continued to expand in December, according to early ‘flash’ PMI data. However, the rate of growth dropped to the weakest since June, accompanied by the smallest rise in new business inflows for 20 months. Demand for services grew only modestly, rising at a sharply reduced rate, and new orders for goods fell for the first time in a year. The survey also saw a slight pull-back in business confidence for the year ahead, which contributed to a softening of employment growth to only a marginal level. Price pressures meanwhile intensified noticeably, with average selling prices rising at one of the ... (full story)
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