US service sector growth reaches four-month high in June as sales gathered modest momentum

From pmi.spglobal.com

Latest PMI® survey data from S&P Global showed that the US service sector recorded a modest, but improved, rise in activity during June. The upturn was supported by a faster increase in new business, as firms responded to gradually stabilizing economic conditions. That said, growth remained historically muted and continued to weigh on employment levels at the end of the second quarter. Inflationary pressures also stayed elevated, despite easing since May, as tariffs and higher fuel prices added again to cost burdens. Confidence in the outlook improved in June to the highest since February. The headline S&P Global ... (full story)