Healthcare and Financial Sector Lead Private Sector Growth in U.S. During January

The United States private sector output last month witnessed its first broad-based upturn since October 2020, according to data by IHS Markit on Wednesday.

The Sector Purchasing Managers’ Index (PMI) showed that all seven categories monitored by the series registered an expansion of business activity during January.

Healthcare maintained a faster rate of growth compared with other sectors, however, the gap narrowed in January due to the financial sector showing a strong performance.

Meanwhile, the latest increase in business activity at financial service providers was the sharpest recorded since the series began in October 2009, the report showed.

Consumer goods producers registered a strong rise, as well as basic materials, industrials, and technology businesses.