U.S Composite Output Index slipped to a 2-month low of 59.1 in March, down from February’s 59.5, according to IHS Markit press release. The index signaled the second-fastest private sector upturn for six years.
- Flash Services Business Activity Index hit an 80-month high of 60.0, up from 59.8 in February
- Flash Manufacturing PMI reached a 2-month high of 59.0, up from 58.6 in February
- Flash Manufacturing Output Index dropped to a 5-month low of 54.5, down from 57.8 in February
- Goods producers reported the sharpest rise in new orders since June 2014 amid capacity pressures that constrained manufacturing output growth.
- Service providers recorded the steepest increase in new business for almost 3 years on stronger demand and easing COVID-19 restrictions.
- Output cost inflation rose to the fastest on record as cost of materials rose.
- Overall business confidence picked in March, running at a level rarely exceeded over the past seven years.
EURUSD is down 0.21%