US private sector activity in June reached the highest Composite PMI since April 2022, led by increased manufacturing and services sectors.
US private sector activity exceeds estimates in June, with the S&P Global Composite PMI rising to 54.6, the highest level since April 2022. Both the manufacturing and services sectors contributed to the increase, with the manufacturing sector at 51.7 and the services sector at 55.1. Businesses reported increased activity and cooling inflation, creating a favorable environment for the Federal Reserve to consider cutting interest rates.
June 21, 2024
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