US Economic Activity Hits 31-Month High

In November, U.S. business activity surged to a 31-month high, with S&P Global's Composite PMI rising to 55.3, up from 54.1 in October, indicating accelerated economic growth ahead of the incoming Trump administration and anticipated lower interest rates. The services sector led this expansion, reaching a peak not seen since March 2022, while manufacturing showed signs of stability with a slight improvement in contraction rates. Optimism among businesses is at its highest since May 2022, driven by expectations of pro-business policies and more favorable economic conditions. Despite ongoing hiring challenges, inflationary pressures are easing, with price increases remaining subdued as consumer resistance grows. Analysts predict a solid economic performance in the fourth quarter, with GDP growth estimates around 2.6%. Overall, the data reflects a positive outlook for the U.S. economy, suggesting potential for further investment and market expansion.