Surveys of businesses leaders show improved U.S. growth
The numbers: The U.S. economy improved at the start of the fourth quarter due to slower inflation and fresh hopes that interest rates have peaked, a pair of S&P surveys showed.
The S&P flash U.S. services-sector index rose to a three-month high of 50.9 from 50.1 in the prior month. Most Americans are employed on the service side of the economy. The S&P U.S. manufacturing-sector index, meanwhile, climbed to a six-month high of 50 from 49.8 in prior month. The index has been in negative territory since last spring.
The S&P Global surveys are among the first indicators each month to provide an assessment of the health of the economy. Any number above 50 signals expansion, while numbers below 50 point to contraction. The S&P surveys have consistently shown the economy to be weaker than other measures of U.S. growth. Recent reports on job creation. layoffs and retail sales suggest the economy is still growing at a healthy pace.
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