U.S. Business Activity Strengthens in January: IHS Markit

Business activity in the United States expanded during January, data showed on Friday.

The IHS Markit flash U.S. composite purchasing managers’ index (PMI) reached its highest level in two months at 58 this month, up from 55.3 in December.

The Flash U.S. Services Business Activity Index also went up to 57.5, compared to its reading at 54.8 in December.

Meanwhile, the Flash U.S. Manufacturing PMI recorded 59.1 in January, up from 57.1 in December, registering a new record high.

Similarly, the Flash U.S. Manufacturing Output Index rose to 60.5 from 58.3 in the prior month, recording its best level in about six and a half years.