US business activity rises to eight-month high

The mood of economic operators in the United States is somewhat spoiled by the war in Ukraine. Overall, however, the US economy is in many ways in better shape than before the coronavirus pandemic.

Business activity is increasing

The US Purchasing Managers’ Index climbed to 58.5 points in March. It was the highest level since last July, when the index fell just a few tenths short of 56 points. Business activity is thus increasing in the US, thanks mainly to strong consumer demand. On the other hand, the mood is spoiled by the ongoing war in Ukraine.

Míra nezaměstnanosti klesá

Yet the US economy is in many ways in better shape than before the coronavirus pandemic. This is confirmed, for example, by fresh data on the number of job applications. It fell to 187,000 this week, the lowest since September 1969. Analysts had expected around 212 000 people to apply for jobs. The unemployment rate fell to 3.8 percent, the lowest in two years.

In addition to the war in Ukraine, persistently high inflation, which is at its highest level in 40 years, can be considered a risk factor for the coming months. Prices in the US rose 7.9 percent year-on-year in February.

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