U.S. Business Activity Continued to Expand in October

By Jessica Coacci

U.S. private-sector business activity continued to expand in October, despite slowing slightly from September, while price pressures intensified, a monthly survey said.

The S&P Global Flash U.S. Composite PMI - based on its surveys of services and manufacturing firms - was 57.6 October compared with 58.4 in September. A reading above 50 indicates activity continued to grow.

Despite ticking down slightly, the index still signaled the second-sharpest increase in activity since March 2022, the survey said.

Growth rates in both manufacturing and services remained among the best seen over the past five years as robust domestic demand was accompanied by renewed signs of export growth, the survey said. Hiring also remained strong.

"October's flash PMI data indicate that the U.S. economy continues to boom at the start of the fourth quarter," said Chris Williamson, chief business economist at S&P Global Market Intelligence.

However, selling price inflation picked up, and the overall rise in prices across goods and services was the largest since August 2022. Cost pressures remained a key concern due to the renewed surge in oil prices.

"Supply-chain bottlenecks have meanwhile intensified, and order book backlogs are growing, making it easier for companies to pass higher costs on to customers," Williamson said.

Write to Jessica Coacci at jessica.coacci@wsj.com

(END) Dow Jones Newswires

October 23, 2026 10:15 ET (14:15 GMT)