GET DAILY REPORT FREE
U.S. business activity was steady in September, although average prices charged for goods and services rose at the fastest pace in six months, Reuters reports.
The uptick potentially hints at a pickup in inflation in the coming months.
S&P Global said on Monday that its flash U.S. Composite PMI Output Index, tracking the manufacturing and services sectors, was little changed at 54.4 this month compared to a final reading of 54.6 in August. A reading above 50 indicates expansion in the private sector.
Uncertainty about the Nov. 5 presidential election is, however, weighing on business sentiment. The services sector continued to expand at a steady pace, though manufacturing slumped to a 15-month low.
