U.S. Business Output Expands Most on Record, IHS Markit Says

Bloomberg2021-04-23

Composite prices-received measure highest in data to 2009 Gauge of manufacturing orders second-strongest on record A gauge of output at U.S. manufacturers and service providers reached a record high ...

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Readings above 50 indicate growth.\n\nAn easing of Covid-19 restrictions and robust sales are driving faster growth in business activity, including a record pace of expansion in orders placed with the nation’s factories, the group’s data showed.\nHowever, supply shortages and shipping challenges are complicating manufacturers’ efforts to meet demand while driving up materials costs at the same time.\nFactories and service providers are having greater success passing along higher input costs. The IHS Markit’s composite gauge of prices received rose to a record in March.\n“The worsening supply situation is a concern for the outlook, especially in relation to prices,” Chris Williamson, chief business economist at IHS Markit, said in a statement.\n“Supply needs to improve to come into line with demand. 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