U.S. business activity appears to show strength amid inflation pressures.
This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe. This could have implications for central banks and global markets, said Shaan Raithatha, a senior economist at the firm. Vanguard isn't the only one raising the possibility of no rate cuts in 2024.
"The brightest news came from the manufacturing sector, where production is now growing at the fastest rate since May 2022," said Chris Williamson, chief business economist at S&P Global Market Intelligence. The services sector fell more than expected, coming in at 51.7 — a decline of 0.6 point from a month ago, but still in expansionary territory.
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