U.S. business activity was steady in September, although average prices charged for goods and services rose at the fastest pace in six months, Reuters reports.
The uptick potentially hints at a pickup in inflation in the coming months.
S&P Global said on Monday that its flash U.S. Composite PMI Output Index, tracking the manufacturing and services sectors, was little changed at 54.4 this month compared to a final reading of 54.6 in August. A reading above 50 indicates expansion in the private sector.
Uncertainty about the Nov. 5 presidential election is, however, weighing on business sentiment. The services sector continued to expand at a steady pace, though manufacturing slumped to a 15-month low.
