Private sector firms in the US registered a further decline in output at the start of 2023, according to latest ‘flash’ PMI™ data from S&P Global. The fall in business activity softened to the slowest in three months, however, as manufacturers and service providers signalled moderations in their respective downturns. The headline Flash US PMI Composite Output Index registered 46.6 in January, up from 45.0 at the end of 2022. The contraction in activity was solid overall, but the slowest since last October. Goods producers and service providers recorded similar rates of decline, with service sector firms ... (full story)