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Economy Gained Momentum in February Despite Inflation Worries
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U.S. economic growth picked up this month but inflation pressures increased as the Omicron wave of Covid-19 ebbed and Americans resumed dining out and traveling, according to surveys of purchasing managers.
Private data firm IHS Markit said Tuesday that its composite Purchasing Managers Index for the U.S. rose to a two-month high of 56.0 in February from 51.1 in January. A reading above 50 indicates growth, while a level below 50 signals contraction.
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