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- July data revealed a further acceleration in business activity growth across the U.S. private sector
July data revealed a further acceleration in business activity growth across the U.S. private sector
At 54.2, up from 53.9 in June, the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index signalled the strongest rate of expansion since January.
The pickup in business activity growth was driven by a steeper increase in manufacturing production in July ('flash' output index at 54.3, up from 52.6 in June). Meanwhile, service providers indicated that activity growth was unchanged from June's five-month peak ('flash' business activity index at 54.2 in July). Higher levels of business activity were supported by a robust and accelerated upturn in new work during July. Measured overall, the latest increase in new orders received by private sector companies was the strongest for six months.
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