US: Sharpest expansion of US private sector output for six months in July - Markit

Eren Sengezer FXStreet

"July data revealed a further acceleration in business activity growth across the U.S. private sector. At 54.2, up from 53.9 in June, the seasonally adjusted IHS Markit Flash U.S. Composite PMI Output Index signaled the
strongest rate of expansion since January," Markit said on Monday.

Key takeaways:

Flash U.S. Composite Output Index at 54.2 (53.9 in June). 6-month high
Flash U.S. Services Business Activity Index at 54.2 (54.2 in June). Unchanged vs. last month
Flash U.S. Manufacturing PMI at 53.2 (52.0 in June). 4-month high
Flash U.S. Manufacturing Output Index at 54.3 (52.6 in June), 4-month high
Private sector payroll numbers expanded at a solid pace in July, with the rate of job creation the fastest so far in 2017
Higher levels of business activity were supported by a robust and accelerated upturn in new work during July
Measured overall, the latest increase in new orders received by private sector companies was the strongest for six months

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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