Financial services best sector in December in U.S.Christian Fernsby ▼ | January 9, 2020
US Sector PMI indices are compiled from responses to questionnaires sent to purchasing managers in IHS Markit's US manufacturing and services PMI survey panels, covering over 1,000 private sector companies.
World economies Financials recorded the strongest business activity
Topics: Services U.S.
Financials recorded the strongest business activity growth of the seven broad categories monitored by the IHS Markit US Sector PMI in December.
The latest increase in business activity among financial service providers was the sharpest seen since July 2018.
Output growth in the broad industrials category picked up for the third month running in December.
Moreover, the rate of expansion was the fastest since March 2019.
A similarly strong rise in business activity was indicated by technology firms at the end of last year, with growth in this category reaching a four-month high.
Consumer goods slipped down the performance table during the latest survey period, with production growth easing from November's nine-month peak.
At the same time, business activity continued to rise at only a modest pace among consumer service providers.
Healthcare also experienced a relatively subdued pace of expansion at the end of 2019.
Basic materials was the worst-performing broad category of activity in December and the only sector to register an overall decline in output.
Although only marginal, the decline in production volumes was the fastest recorded by the survey since May 2016. ■