Preliminary S&P Global Composite PMI data shows stronger US business activity in July, exceeding June’s 51.9 reading.
US private sector business activity expanded at a faster pace in July, with the S&P Global Composite PMI rising to a preliminary 53.6 from 51.9 in June. The increase signals improving economic momentum amid easing inflation pressures and steady demand.
The June print marked a three-month low, following a peak of 54.3 in May. Analysts had expected a modest uptick to 52.5 for July, making the actual reading a positive surprise. The services sector led the gains, while manufacturing showed signs of stabilization.
Markets reacted cautiously, with US Treasury yields edging higher and equity futures maintaining modest gains. The data reinforces expectations of a resilient economy, though Fed policy remains a key focus.