Strongest rise in US business activity in year-to-date

From pmi.spglobal.com

Growth gained momentum in the US service sector during July. Business activity increased at the sharpest pace in the year-to-date amid a solid and accelerated expansion in new business. Companies responded to higher workloads by hiring additional staff, albeit only modestly. Meanwhile, tariffs continued to add to inflationary pressures, resulting in faster increases in both input costs and output prices. The S&P Global US Services PMI® Business Activity Index rose to a seven-month high of 55.7 in July, up from 52.9 in June. The latest reading signaled a marked monthly expansion of output in the service sector, ... (full story)