According to CoinMeta, the growth rate of corporate activities in the United States slowed slightly in October, but still remained near multi-year highs. Strong demand drove an increase in new orders, employment, and prices. Data released on Friday showed that the preliminary value of S&P Global’s Composite Purchasing Managers Index for October fell by 0.8 points to 57.6, the second-highest level since 2022. The sales price indicator rose at the fastest pace in over four years, reflecting a significant increase in costs for energy, transportation, and raw materials. Chris Williamson, the chief business economist at S&P Global Market Intelligence, stated that cost pressures remain a major concern, especially as the impact of soaring oil prices spreads to a wide range of goods and services. Supply bottlenecks are also worsening, with supplier delivery times extending to the greatest extent since 2022 due to shortages of materials and labor, overcapacity among suppliers, and transportation delays. Nevertheless, Williamson noted that, excluding the period of economic restart after the pandemic, U.S. companies are experiencing the strongest growth period since 2015. Strong consumer spending, investment driven by AI, and defense spending have all provided support for U.S. businesses this year. The new orders indicator, which measures demand, recorded the fastest growth rate in four and a half years in October.