US Output Growth Hits 26-Month High in June, Price Pressures Cool
According to provisional PMI survey data from S&P Global, US business activity growth accelerated to its fastest in 26 months in June, marking a robust end to the second quarter. The service sector spearheaded the upturn, supported by the manufacturing sector, although the latter’s recent resurgence showed a slight slowdown. Enhanced business confidence for the upcoming year, particularly in the service industry, along with increased demand putting pressure on operating capacity, prompted firms to increase their workforce for the first time in three months. The survey also indicated a rise in selling price inflation.
NewsStand reported this story on Jun 21 at 3:45pm, attracting 1,856 views and 2 comments. Related stories include the easing of UK private sector activity growth to a seven-month low in June, marginal growth in German business activity, and the setback in the French economy as output contracts at a faster pace.
In response to the news, user cobalt0x commented at 3:53pm, stating, ‘it appears that the market sells the wall of confidence and buys the wall of worry. this is the way.’ Another user, skillz16, responded at 4:04pm, agreeing with the sentiment and adding insights on market dynamics since 2008/2009.
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