US S&P Global Composite PMI Rises to 53.6 in July
The preliminary S&P Global Composite PMI for the US came in at 53.6 in July, up from June's 51.9, indicating accelerating business activity in the private sector.
The United States' private sector business activity expanded at a faster pace in July, according to the preliminary S&P Global Composite Purchasing Managers' Index (PMI). The index rose to 53.6 from 51.9 in June, signaling a stronger expansion.
A reading above 50 indicates expansion in the private sector. The improvement reflects broad-based growth across both manufacturing and services, though detailed sub-indices were not provided in this release.
The data suggests resilience in the US economy at the start of the third quarter, which may influence expectations for the Federal Reserve's monetary policy stance.
Source: FXStreet Forex News