U.S. services PMI rose to 53.6 in July, above forecasts and June’s reading
How left and right are reading this
- Both agree
- Services-led private-sector growth strengthened in July, with hiring and confidence improving even as delivery delays and elevated costs showed the expansion remains under strain.
- They split on
- Whether the story is about growth proving economic resilience, or about growth counting only if its gains are broad and durable despite persistent cost pressures.
The Facts
- The U.S. flash Services PMI Business Activity Index was 53.6 in July, up from 51.2 in June.
- The July services PMI reading was above market expectations, which were around 51.3.
- A reading above 50 on the PMI indicates expansion rather than contraction.
- The broader S&P Global U.S. Composite PMI rose to 53.6 in July from 51.9 in June.
- Reports said stronger overall U.S. private-sector activity in July was driven mainly by the services sector, while manufacturing growth slowed.
- The July survey indicated some follow-on effects beyond output, including a return to hiring and stronger business confidence.
- At the same time, the survey pointed to ongoing pressures, including worsening supplier delivery times and elevated costs or prices.
Analytical frames for this storyTap to explore
Context
What does the Services PMI measure?
It is a survey-based indicator of business activity in the services sector. The Investing.com report says the sector includes industries such as transport, communications, finance, business and personal services, computing and IT, hotels and restaurants, and that readings above 50 indicate expansion Investing.com.
Why is this release important?
The July data suggested faster growth in the part of the economy that drove the broader pickup in U.S. private-sector activity, with the composite PMI also rising to 53.6 Hellenic Shipping N…,Zero Hedge. The same survey also showed firms increasing hiring and reporting higher confidence, which can offer clues about near-term economic momentum Hellenic Shipping N…,Zero Hedge.
Did manufacturing show the same strength?
No. Manufacturing remained in expansion territory, but July’s flash manufacturing PMI slipped to 53.8 from 53.9 and came in below expectations, while services accelerated more clearly Investing.com,Hellenic Shipping N….
Facts first. Then every angle.
The day’s biggest stories in one short brief — the facts everyone agrees on, then the competing values behind the headlines. Free in your inbox.
View all 100 sources
Wire services (11)
ReutersGlobal Banking & Finance ReviewEuro Zone Business Activity Grows in July as PMI Hits 5-Mont...
ReutersGlobal Banking & Finance ReviewGerman Business Activity Returns to Growth, PMI Rises in Jul...
ReutersGlobal Banking & Finance ReviewFrench Private Sector Contraction Eases in July as PMI Impro...
ReutersSuperhits 97.9 Terre Haute, INJapan's factory activity stays firm as output surges in July...
Independent coverage (50)
Rediff.com India Ltd.India's private sector activity hits four-year low in July: ...
eutoday.netEurozone Business Activity Returns to Growth as Energy Risks...
Hellenic Shipping NewsIndia Manufacturing Growth Slows in June
Hellenic Shipping NewsEurozone Manufacturing Growth Picks Up Slightly
Hellenic Shipping NewsEuro Area Services Sector Returns to Growth
Hellenic Shipping NewsUS Business Activity Growth Accelerates to 8-Month High
Hellenic Shipping NewsUS Manufacturing Growth Eases Slightly in July
Kitco.comGold stuck in neutral as S&P Global highlights healthy US PM...
FXEmpire.comU.S. Dollar Pulls Back As Oil Dives 4%: Analysis For EUR/USD...
FXStreetBritish Pound: Strong PMIs and retail rebound in focus - TD ...
FXStreetEuro slips against US Dollar as strong US PMI supports Green...
Deccan ChronicleHSBC PMI: Indian Private Sector Activity Hits Slowest Pace S...
Tech TimesServices Surge Pushes US Growth to 2.3% Pace as Factories En...
The TribuneIndias private sector growth drops to lowest since March 202...
Crypto BriefingUS S&P Composite PMI flash rises to 53.6, beating forecasts ...
Kitco.comGold stuck in neutral as S&P Global highlights healthy US PM...
Tech TimesUK Manufacturing PMI Hits 22-Month High as Private Sector Sn...
Action ForexUS PMI Hits Eight-Month High,Yet Rising Costs and Supply Del...
News & Analysis for Stocks, Crypto & Forex | investingLiveThe July Flash S&P Global Manufacturing 53.8 vs 54.3 estimat...
Zero HedgeUS PMIs Mixed But Still Signal Accelerating Economic Growth ...
Trading Economics - Indicators for 232 CountriesUnited States Composite PMI
Crypto BriefingUS PMI readings all land above 53 in July, painting a surpri...
Investing.comServices PMI Surges, Exceeding Forecasts and Previous Levels...
Tech TimesGerman Factories Hit Four-Year High: Eurozone PMI Jumps to 5...
Investing.comManufacturing PMI falls short of expectations, signaling sec...
BeInCryptoUS S&P Global PMI expected to show steady business growth in...
BW BusinessworldIndia's Private Sector Growth Slows To Over Three-Year Low I...
EconoTimesEurope Roundup: Sterling little changed against dollar, Euro...
The Financial ExpressIndia pvt sector growth over 4-year low in July, PMI shows
Crypto BriefingEuro zone business activity returns to growth in July as PMI...
BOLSAMANIAEurozone composite PMI returns to growth as confidence impro...
ETCFO.comIndia's private sector growth hits over four-year low
FXStreetUS PMIs set to reflect healthy business activity in July | F...
Economic TimesEuro zone business activity returns to growth in July for fi...
ETCFO.comIndian service sector slows down to 53.1 in July: PMI Flash
FXStreetEuro holds steady vs British Pound as PMIs beat, risk aversi...
Bradenton HeraldEuro zone business activity returns to growth in July for fi...
FXStreetGBP/USD - Sell trade idea explained [Video] | FXStreet
London South EastUK private sector back on rise in July on "marginal" climb i...
Trading Economics - Indicators for 232 CountriesUnited Kingdom Services PMI
Investing.comUK private sector returns to growth in July on services rebo...
Action ForexUK PMI Composite Returns to Expansion at 52.1 as Manufacturi...
FXStreetEuro remains capped below 1.1400 despite bright Eurozone pre...
mintIndia's private sector growth slows to over four-year low in...
United News of IndiaPrivate sector activity expands at slowest pace in over thre...
News & Analysis for Stocks, Crypto & Forex | investingLiveEuro area business activity rises for first time in four mon...
Action ForexEurozone PMI Composite Rebounds to 51.6 as Manufacturing Pow...
Investing.comEurozone business activity returns to growth in July By Inve...
FirstpostIndia's private sector growth dips to over 4-year low, servi...
BW BusinessworldIndia's July Flash PMI Falls To 54.3 - BW Businessworld
About these frames
The First Responder: Who gets hurt or helped. Quality of life, vulnerable groups, public health, human cost and benefit.
The Architect: Stability, law, enforcement, institutional design, separation of powers, regulatory process, rule of law. How are order and governance maintained?
The Analyst: Costs, jobs, inflation, growth, incentives, markets, tradeoffs. Follow the money.
See this differently than someone you know would? Two ways to keep it going.
The dial works on any URL — paste an article you read elsewhere this week.