Private sector growth strong in July, but prices charged rising at record rate

U.S. private sector companies experienced a robust rise in overall business activity during July, supported by an improving economic backdrop and another sharp upturn in incoming new work. Relatively strong rates of business activity growth were recorded in both the manufacturing and service sectors.

Intense cost pressures continued in July, which resulted in a sharp and accelerated increase in average prices charged by private sector firms. The latest rise in output charges was the fastest since composite data were first collected in October 2009.

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Markit Flash: Private sector remains strong in June despite dip in manufacturing growth

June data indicated that U.S. private sector firms experienced a strong end to the second quarter of 2018, driven by another robust contribution from service providers. In contrast, manufacturing production growth slowed for the second month running, to its weakest since September 2017.

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January Markit Flash US Composite Index shows fastest rise in five months

January data indicated another solid expansion of U.S. private sector business activity, underpinned by the fastest rise in new work for five months. Manufacturing production continued to increase at a much faster pace than service sector activity.

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October Markit PMI Index indicates strong private sector expansion

The seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index rose to 55.7 in October, from 54.8 in September.  This October data indicated a robust and accelerated expansion of U.S. private sector business activity. The upturn was supported by the fastest rise in manufacturing production for eight months, alongside another robust increase in service sector output.

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