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US business output climbs the most in nearly 6 years as services bounce back, IHS Markit says

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A popular gauge of US business output improved the most in nearly six years as falling COVID-19 case counts lifted the service industry, IHS Markit said Friday.

The firm’s Composite Output Index rose 0.1 points to 58.8 in a preliminary February reading, signaling the strongest rate of expansion since March 2015. The bulk of the improvement was driven by an uptick in the service sector. A measure of service activity rose to 58.9 from 58.3, also its highest level since March 2015.

IHS’ manufacturing purchasing managers’ index declined to 58.5 from 59.2, its lowest point in details ⇒

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