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US PMIs Mixed But Still Signal Accelerating Economic Growth In Q3
US PMIs Mixed But Still Signal Accelerating Economic Growth In Q3
With 'hard data' trending weaker, today's preliminary July PMIs offer the first glimpse at whether the reignition of the Iran War is weighing on 'soft' survey sentiment in the US economy.
The data was mixed (as always) with Manufacturing disappointing while Services accelerated more than expected:
Flash US Manufacturing PMI: 53.8 (June: 53.9). 4-month low.
Flash US Services PMI Business Activity Index: 53.6 (June: 51.2). 8-month high.
“US businesses reported a good start to the third quarter," said Chris Williamson, Chief Business Economist at...
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