Economy

US businesses are growing faster than ever as the economy reawakens

Posted On: May 12, 2021   |   Posted By: Business Insider

US businesses are growing faster than ever as the economy reawakens

Summary List Placement The US economy's March rebound may have only been a warm-up.
Two popular gauges of business activity swung even higher in preliminary April readings, according to analytics firm IHS Markit. The services activity index leaped to 63.1 from 60.4, indicating the fastest level of expansion since data collection began in 2009. The firm's manufacturing index rose to 60.6 from 59.1, also a record.
Markit's composite index soared to an all-time high of 62.2 from 59.7. Readings above 50 indicate sector growth, while those below the threshold signal contraction.
The broad improvements were largely driven by the loosening of economic restrictions and strong demand from consumers, Markit said in the Friday report. Continued vaccination also contributed to stronger activity at service businesses. Manufacturers were able to accelerate production despite lingering supply-chain problems.
"The worsening supply situation is a concern for the outlook, especially in relation to prices," Chris Williamson,...

Continue reading ...

 






The last Posts from Business Insider



Yankees coach Phil Nevin tests positive for coronavirus

Yankees coach Phil Nevin tests positive for coronavirus

ST. PETERSBURG, Fla. - New York Yankees third base coach Phil Nevin is away from the team after a positive COVID-19 test. Read more ...

Mazeika's 2nd walkoff in 4 games lifts Mets over Orioles

Mazeika's 2nd walkoff in 4 games lifts Mets over Orioles

NEW YORK - Patrick Mazeika got his second walkoff RBI in four career games with a fielder's choice grounder in the ninth inning, helping the banged-up New York Mets rally to... Read more ...

Kyrie Irving injury update: Nets star ruled out after taking elbow to face...

Kyrie Irving injury update: Nets star ruled out after taking elbow to face vs. Bulls

Kyrie Irving went down with a facial contusion against the Bulls, and the Nets star didn't return to action. Read more ...

Liz Cheney says Trump and GOP backers threaten democracy

Liz Cheney says Trump and GOP backers threaten democracy

In an abruptly announced evening appearance in a nearly empty House chamber, Cheney, R-Wyo., cast herself as a defender of the Constitution. Read more ...

Montgomery goes 6 strong innings, Yankees beat Rays 3-1

Montgomery goes 6 strong innings, Yankees beat Rays 3-1

ST. PETERSBURG, Fla - Jordan Montgomery pitched six strong innings, Aaron Judge and Gary Sánchez homered, and the New York Yankees beat the Tampa Bay Rays 3-1 on Tuesday night. Read more ...

There's more to worker shortages than added unemployment benefits, experts say

There's more to worker shortages than added unemployment benefits, experts say

Gov. Kim Reynolds' moved to end Iowa's participation in enhanced federal unemployment benefits spurred by the COVID-19 pandemic Tuesday, Read more ...

Miller High Life is hiring a Champagne of Beers ambassador who gets $20K and...

Miller High Life is hiring a Champagne of Beers ambassador who gets $20K and free beer

Dream job alert! Read more ...

Raffl's late goal pushes Capitals past Bruins, 2-1

Raffl's late goal pushes Capitals past Bruins, 2-1

WASHINGTON - Michael Raffl scored from a tight angle with 1.8 seconds remaining and the Washington Capitals beat the short-handed Boston Bruins 2-1 on Tuesday night in the... Read more ...

Defiant Liz Cheney lays out her case ahead of vote to oust her from GOP...

Defiant Liz Cheney lays out her case ahead of vote to oust her from GOP leadership

Liz Cheney took to the House floor to defend her stance on former President Trump on the eve of the House GOP's conference vote to oust her from her leadership position. Read more ...

Bieber extends own MLB strikeout record, Indians beat Cubs

Bieber extends own MLB strikeout record, Indians beat Cubs

CLEVELAND - Shane Bieber pitched out of some early trouble before extending his strikeout record and César Hernández hit a two-run homer, sending the Cleveland Indians to a 3-2... Read more ...