Business activity in the United States surged in November to its highest level in nearly three years, bolstered by rising demand, easing inflation, and growing optimism about the incoming administration’s pro-business policies, according to the latest S&P Global Flash PMI and University of Michigan Consumer Sentiment surveys, released on Nov. 22.
S&P Global’s survey, which tracks activity across America’s manufacturing and services sectors, climbed to 55.3 in November from 54.1 in October, marking the fastest expansion since April 2022.
“The business mood has brightened in November, with confidence about the year ahead hitting a two-and-a-half year high,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement. “The prospect of lower interest rates and a more pro-business approach from the incoming administration has fueled greater optimism, in turn helping drive output and order book inflows higher in November.”…