The growth rate of business activity in the US fell to its lowest level in six months in December, while the investment price index jumped to the highest level in more than three years. Data released on Tuesday showed that the initial value of the S&P Global Composite Output Index for December fell 1.2 points to 53. A reading above 50 indicates expansion. The composite payment price index rose nearly 3 points to 64.1. Chris Williamson, chief business economist at S&P Global Markets Finance, said in a statement: “One major concern is rising costs, and inflation has jumped sharply to its highest level since November 2022.”

The growth rate of business activity in the US fell to its lowest level in six months in December, while the investment price index jumped to the highest level in more than three years. Data released on Tuesday showed that the initial value of the S&P Global Composite Output Index for December fell 1.2 points to 53. A reading above 50 indicates expansion. The composite payment price index rose nearly 3 points to 64.1. Chris Williamson, chief business economist at S&P Global Markets Finance, said in a statement: “One major concern is rising costs, and inflation has jumped sharply to its highest level since November 2022.”