U.S. Business Activity Growth Slows for Manufacturing, Services
- Dr. Bruce Moynihan
- Sep 23, 2025
- 6 min read
The U.S. economy continues to grow, but at a slower pace than earlier this year. Recent data shows that both manufacturing and services expanded less rapidly in a month that coincided with the Federal Reserve’s latest interest rate cut. While the deceleration has sparked concern about momentum in the private sector, it also provides some reassurance for policymakers watching inflation closely. Firms reported weaker selling price growth, suggesting that inflationary pressures could be easing even as businesses adjust to softer demand.
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