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Updated · Bloomberg · Jul 24US Business Activity Jumps to 53.6 PMI in July as Services Offset Factory Cooling
3 articles · Updated · Bloomberg · Jul 24Summary
- 53.6 — the S&P Global flash composite PMI — marked the fastest US business-activity expansion in eight months in July, up from 51.9 in June.
- Strong domestic demand for services drove the pickup, with spending tied to the World Cup and July 4 helping lift activity.
- Manufacturing cooled even as the broader gauge improved, while firms also reported longer supply delays and rising costs.
- Services strength was strong enough to keep the composite index above the 50 expansion line, underscoring a still-resilient US economy.
Insights
Could the sudden spike in summer services demand be masking a deeper manufacturing slowdown later this year? If U.S. growth is so resilient, why is gold stubbornly holding above $4,000 instead of crashing?