U.S financials retained its position as the best-performing area for business activity growth in March, according to IHS Markit press release. All seven broad sector categories recorded an increase in output, with a similar pattern seen for incoming new work.
- Technology sector gained considerable momentum and reached its fastest for six-and-a-half years.
- Rises in business activity was recorded across healthcare and industrials categories, although the latter had softer growth than in February.
- Consumer goods saw the greatest loss of momentum, with production easing to a five-month low.
- Basic materials posted the weakest rise in output since last October.
- Consumer services recorded another modest growth in business activity, but the rate of expansion was the slowest of all seven categories.
- Strong cost pressures persisted, led by record rise in input prices across the basic materials category.
U.S stocks are currently gaining as the dollar loses. EURUSD is up 0.42%