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 a

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.