[U.S. business activity expanded at the fastest rate in more than five years, employment is strong but supply chain pressures are highlighted] September 23rd, U.S. business activity expanded at the fastest rate in more than five years, with strong demand driving new orders and employment in the manufacturing and service industries. Data released by S&P Global on Wednesday showed that the preliminary value of the U.S. Composite Purchasing Managers Index (PMI) in September rose to 58.4, the highest since July 2021. An index above 50 indicates expansion of economic activity. Employment growth was the fastest in more than four years, and input prices rose at the fastest pace since 2022. Respondent companies mainly attributed the rising costs to increased fuel and transportation expenses, and many also cited accelerated wage increases. Chris Williamson, chief business economist at S&P Global Market Intelligence, said in a statement: "Business activity in both the manufacturing and service industries is clearly very strong at the moment." He also said: "However, this growth has also been accompanied by increasing supply chain bottlenecks. Excluding the epidemic period, the current supply chain bottlenecks are one of the most severe stages in the survey's nearly 20-year history. Companies also reported that they are also facing increasing problems finding suitable employees."