US business activity growth recovered slightly in April having slowed to near-stagnation in March following the outbreak of war in the Middle East. However, the overall pace of expansion remained subdued, most notably in the services economy where demand faltered. While manufacturing output showed a solid gain, the increase in part reflected stock building in the face of concerns over supply availability and price hikes. Input cost inflation accelerated and supply delays worsened at a pace not seen since mid-2022, contributing to the largest monthly jump in average selling prices for goods and services since July ... (full story)