On a sectoral basis, both manufacturing and construction posted reductions in output in the fourth quarter while the “robust” services sector continued to record a solid increase in activity, S&P said. Output across the rest of the State remained narrowly within expansionary territory , the agency said.
“These new order trends are concerning as the effects of interest rate hikes will likely only begin to be felt in the quarters to come,” the agency said.
Source: News Formal (newsformal.com)
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