the numbers business conditions at us companies contracted again in january sp surveys show though there were some signs of improvement the sp global “flash” us services sector index rose to a three month high of 466 from 447 in december the service side of the economy employs most americans the sp global us manufacturing sector index meanwhile edged up to 467 from 31month low of 462 at the end of last year the sp surveys are among the first indicators in each month to assess the health of the economy any number below 50 suggests a contracting economy big picture the us economy was stung in 2022 by the highest inflation in 40 years now it’s getting slammed by rising interest rates as the federal reserve aims to bring inflation back down to prepandemic levels many economists believe the us could sink into recession this year market reaction the dow jones industrial average djia and sp 500 spx fell in tuesday trades