US private sector activity down in November 🇺🇸 The Flash United States PMI Composite Output Index, which takes both, the services and the manufacturing business activity into account, stood at 46.3 in November, falling by 1.9 index points in comparison to the previous month and representing the lowest reading in three months, according to a preliminary report published by S&P Global on Wednesday. "In this environment, inflationary pressures should continue to cool in the months ahead, potentially markedly, but the economy meanwhile continues to head deeper into a likely recession," S&P Global Market Intelligence's Chief Business Economist Chris Williamson noted.