U.S. technology sector growth accelerates to noticeable rate in December

The latest U.S. Sector PMI data showed that the U.S. technology sector saw a marked upturn in output in December. Moreover, the rate of growth accelerated to the joint-second strongest since September 2014. Output growth in the basic materials sector grew sharply, with the pace of rise accelerating to the most rapid in more than two-and-half years. Furthermore, the sector saw the second-strongest growth of the seven monitored categories in December.

Meanwhile, the consumer goods sector also recorded a solid and faster upturn in business activity in December. Moreover, the increase in output was the most rapid since May. In the meantime, growths in the industrials and financials sector weakened, with expansion in the latter slowing to an eight-month low. For the second straight month, the healthcare sector saw a contraction in business activity. However, the rate of declined slowed to a fractional pace.

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