US composite PMI improves in July

 The United States Composite PMI Output Index stood at 53.6 in July, up from 51.9 in June and hitting an eight-month high, according to S&P Global's preliminary report released on Friday.

In July, the country's Services PMI Business Activity Index rose to 53.6, up from 51.2 the previous month, reaching an eight-month high. Additionally, the manufacturing PMI decreased from 53.9 in June to 53.8 in July, reaching a 4-month low.

"July saw hospitality spend boosted by the FIFA World Cup and USA 250 anniversary activities," Chief Business Economist at S&P Global Market Intelligence Chris Williamson noted. "Events over recent days in the Middle East will have only further exacerbated these supply chain and price worries and raise downside risks to the near-term outlook for the economy, hinting that July's upturn may not be the start of an improving trend."

https://breakingthenews.net/Article/US-composite-PMI-improves-in-July/66771185