Preliminary S&P Global Composite PMI data shows US business activity expanded at a faster pace in July, exceeding June’s reading.
US private sector activity grew at an accelerated pace in July, with the S&P Global Composite PMI rising to 53.6 from 51.9 in June. The preliminary reading signals stronger business momentum in the world’s largest economy.
The June print of 51.9 marked a modest expansion, following a dip below the 50 threshold in prior months. A reading above 50 indicates growth, while below signals contraction. The July uptick suggests a rebound in economic activity.
Markets monitor PMI data as a leading indicator of economic health, influencing expectations for monetary policy and corporate earnings.