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Slowest rise in US business activity in 5 months, but sentiment improves markedly in July
July data suggested that growth in the U.S. service sector remained muted, with activity rising at the weakest pace in the current five-month sequence of expansion. A slower increase in new business was also recorded. On a more positive note, the rate of job creation picked up slightly and business sentiment improved markedly from June’s record low. On the price front, slower increases were registered for both input costs and output prices during the month. At 50.9 in July, the seasonally adjusted Markit Flash U.S. Services PMI™ Business Activity Index1 was down from 51.4 in June and pointed to a slight expansion ... (full story)