The current economic environment
In October 2024, the S&P Global PMI composite index of the United States showed an increase of 0.3 points, reaching a value of 54.3. This figure is particularly significant, since values above 50 indicate an expansion in economic activity. Despite a third consecutive month of decline in industrial production, the service sector has demonstrated remarkable resilience, supporting overall growth. Output expectations for the coming year jumped 8 points, the highest since May 2022, suggesting renewed optimism among service providers and manufacturers
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Growth expectations and the climate of confidence
The recent elections in November have fueled hopes of an increase in business spending, contributing to a climate of confidence among economic operators. This optimism is reflected in the PMI data, where the manufacturing sector saw an increase from 47.3 to 47.8 points, while the service sector accelerated from 54.0 to 54.3 points. Both results exceeded expectations, indicating a more robust recovery than expected. Investor confidence is crucial for the future of the American economy, especially in an uncertain global environment
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Inflation and input costs
Another aspect to consider is the trend in inflation. Although input costs remain high, the composite measure of the prices received by S&P Global has fallen to its lowest point in four years. This could suggest a stabilization of prices, but it is essential to carefully monitor the evolution of the situation. Companies face the challenge of managing costs without compromising the quality of their products and services. The ability to adapt will be decisive for maintaining competitiveness in the market
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