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US Business Activity Growth Slower than Initially Thought

2026-07-06 13:54:32

Abstract generation in progress

The S&P Global US Composite PMI increased to 51.9 in June from 51.5 in May, though the reading came in below the preliminary estimate of 52.2. Manufacturing output continued to expand strongly, while services activity also accelerated, albeit at a modest pace. New business growth strengthened toward the end of the second quarter, and business confidence over the next 12 months improved. However, employment declined for a second consecutive month. On the pricing front, input cost inflation eased slightly but remained elevated, while output price inflation was largely unchanged from May. Both input and output price pressures continued to run well above their historical averages.

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