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US business activity marks 27 month-high in February

US business activity marks 27 month-high in February

Mubasher: US business activity rose in February, recording its highest level in 27 months, on the back of both the manufacturing and the services sectors, data by IHS Markit showed on Wednesday.

The headline composite output purchasing managers index (PMI) rose to 55.9 points in February from 53.8 a month earlier.

The manufacturing PMI activity rose to 55.9 points in February, compared to 55.5 in January 2018.

Meanwhile, the service sector’s PMI inched up to 55.9 points during February versus 53.3 in the first month of 2018.

By 03:49 pm GMT, the Euro index retreated 0.18% to $1.23.