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US business growth hits five-year high
The United States experienced a rapid acceleration in business growth during September, the highest in over five years, as both the services and manufacturing sectors increased their activity, with the Purchasing Managers' Index rising to 58.4 points from 56.0 in August. Employment rates in the country also saw significant growth, the largest in over four years, amid supply chain challenges and hurdles in hiring suitable workers. While this growth reflects an economic rebound, the ongoing accumulation of work and the difficulty in price determination raise concerns about future inflation prospects.
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