S&P Global Market Intelligence chief business economist Chris Williamson said
September US business activity rose at the fastest pace in over five years as
stronger demand and improved business confidence pushed output expansion to a
five-year high. Robust services expansion, together with an equally strong
manufacturing PMI, points to roughly 4% GDP growth in Q3 and suggests economic
momentum is strengthening into early Q4. Tech firms reported their fastest
growth in nearly four years, citing an AI boost; consumer-facing, healthcare,
alcohol, real estate and financial services sectors also saw acceleration.
Input-cost inflation climbed in September to its highest level in nearly four
years, with rising fuel costs lifting cost pressure and firms accelerating price
increases, indicating inflation may remain above the Fed’s 2% target.
