Summary List Placement

The US economy’s March rebound may have only been a warm-up.

Two popular gauges of business activity swung even higher in preliminary April readings, according to analytics firm IHS Markit. The services activity index leaped to 63.1 from 60.4, indicating the fastest level of expansion since data collection began in 2009. The firm’s manufacturing index rose to 60.6 from 59.1, also a record.

Markit’s composite index soared to an all-time high of 62.2 from 59.7. Readings above 50 indicate sector growth, while those below the threshold signal contraction.

The broad improvements were largely driven by the loosening details ⇒

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