Washington: The US economy remains weak in January, with the rate of decline “at its steepest level since the global financial crisis,” US financial information and analytics provider S&P Global said Tuesday. said in a press release.
“The U.S. economy contracted sharply again in January, starting 2023 on a disappointingly soft start,” said Chris Williamson, chief business economist at S&P Global Market Intelligence.
According to a press release, S&P Global said the flash US PMI headline output index, which measures certain aspects of the services and manufacturing sectors, rose to 46.6% in January from 45.0% in December. discovered.
The number is still below 50, according to Xinhua News Agency, a measure that separates expansion from contraction, and echoes economists’ expectations that the U.S. economy could head into recession this year. – Bernama