Basis Points U.S. business activity grew more quickly in January thanks to a strong services sector and recovery in manufacturing, a purchasing manager' survey showed Wednesday. The S&P Global Flash U.S. Composite PMI, a gauge of activity in the manufacturing and services sectors, rose from 50.9 in December to 52.3 this month. (Dow Jones Newswires) Mexican inflation picked up in the first half of January, led by increases in fresh produce prices, while core inflation continued to ease. The consumer-price index rose 0.49% from the end of December and 4.90% from a year earlier, the National Statistics Institute said Wednesday. Core CPI, which excludes energy and fresh produce, rose 0.25% in the first two weeks of the year and 4.78% from a year earlier. Mexican inflation was 4.66% at the end of 2023, the lowest for a calendar year in three years, and core inflation was 5.09%. (DJN) Business sentiment in Germany sank in January , offering further proof that the eurozone's most important economy is stuck in a rut. The Ifo business-climate index fell to 85.2 in January from 86.3 in December, data from the Ifo Institute showed Thursday. This was worse than forecast by economists, who had expected a slight uptick in sentiment, according to a poll compiled by The Wall Street Journal. (DJN) The Australian pipeline for initial public offerings remains subdued after a slump in 2023, as businesses wait for more clarity on interest rates and economic conditions before listing. For 2023, there were just 32 IPOs in the Australian market, accountancy firm HLB Mann Judd found in its annual IPO report. That was the lowest number in the roughly 20 years the firm has been putting out the report. South Korea's economy expanded 1.4% in 2023 after posting stronger-than-expected growth in the final quarter, supported by the semiconductor-led recovery in exports. Gross domestic product grew 0.6% from the prior quarter, the same pace as seen in the third quarter, Bank of Korea preliminary data showed on Thursday. (DJN) Feedback Loop

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This article is a text version of a Wall Street Journal newsletter published earlier today.


(END) Dow Jones Newswires

01-25-24 0716ET