Slowing US business activity and rising costs are exacerbating inflation pressures
Data issued on Wednesday showed that business activity in the United States slowed during December to the weakest pace in six months, at a time when input costs jumped to the highest level in more than three years.
The preliminary composite production index issued by “S&P Global” decreased by 1.2 points to record 53 points, while the prices paid index rose to 64.1 points, according to the Bloomberg network.
Chris Williamson, chief economist at S&P Global, said, “The main concern is rising costs, with inflation jumping to the highest level since November 2022, which led to one of the largest sales price increases in three years.” “Years”. Interest rates in the last three meetings to support the slowing labor market.
The composite employment index also fell by 1.4 points, approaching recession, while service sector employment recorded the weakest performance since April. The report indicated that the growth in new orders was the slowest since the contraction in bookings in April 2024.
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