US Business Activity Expands at Fastest Pace in Four Months

US business activity expanded in November by the most in four months amid faster growth at service providers, while optimism about the outlook improved notably.

The S&P Global flash November composite output index ticked up 0.2 point to 54.8, data released Friday showed. Figures above 50 indicate expansion. The services index also rose to a four-month high, while manufacturing growth slowed.

“A marked uplift in business confidence about prospects in the year ahead adds to the good news,” Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement.

“Hopes for further interest rate cuts and the ...