US business activity expanded in April at the slowest pace this year on a pullback in demand that led to the first decline in employment since 2020. The S&P Global flash April composite index of output at manufacturers and service providers slipped 1.2 points, the most since August, to 50.9. Readings above 50 indicate expansion. The composite measure of orders showed the first contraction in six months. The group’s measure of employment slid 3.2 points to 48, reflecting shrinking services payrolls and slower growth at manufacturers. The composite index of prices received, meanwhile, pulled back from a 10-month ... (full story)