US composite PMI rises more than expected (53.5) as both services and manufacturing improve

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BancaMarch : In the US, business confidence data was also released and in this case was positive as confidence in both services and manufacturing improved. Notably, the composite PMI rose more than expected to 53.5 from 52.3 and well above the expected 51.2.

At the sectoral level, the improvement came both on the services side, with the confidence indicator rising to 53.5 from 52.3, and on the manufacturing side, which rose to 50.4 from 49.2 and thus moved out of the area of economic contraction.

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The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.