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Technology sector growth in U.S. accelerates

Staff Writer |
The US technology sector indicated a marked upturn in output in December, according to the latest U.S. Sector PMI data from IHS Markit.

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Furthermore, the pace of expansion accelerated to the joint-second strongest since September 2014. Output growth in the basic materials sector expanded sharply, with the rate of increase accelerating to the fastest in over two-and-half years.

Moreover, the sector reported the secondstrongest growth of the seven monitored categories in December. The consumer goods sector likewise indicated a strong and faster upturn in business activity in December. Furthermore, the rise in output was the quickest since May.

Meanwhile, expansions in the industrials and financials sectors softened, with growth in the latter easing to an eight-month low.

For the second successive month, the healthcare sector indicated a contraction in business activity. That said, the pace of decline softened to a fractional rate.


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