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US business activity rises in March, but sentiment deteriorates further

The U.S. business activity in March showed signs of growth, with the S&P Global Flash U.S. Composite PMI Output Index increasing to 53.3 from February's 50.1, indicating expansion in both manufacturing and services sectors. However, despite this growth, business sentiment has deteriorated, with companies expressing concerns over future economic conditions due to ongoing high inflation, rising interest rates, and fears of a potential recession. The services sector PMI rose to 53.8, marking its highest level in nearly a year, while manufacturing PMI also saw an uptick to 49.3, though still indicating contraction. Despite the positive PMI figures, there's a noticeable decline in optimism, with businesses reporting lower confidence levels, reduced hiring, and a cautious approach to future investments. This mixed economic signal suggests a complex recovery landscape where growth is present but shadowed by significant economic uncertainties.

Read the Full Reuters Article at:
[ https://www.msn.com/en-us/money/markets/us-business-activity-rises-in-march-but-sentiment-deteriorates-further/ar-AA1BygaK ]