• Services output growth unchanged from the series-record high seen in June •Strong rise in new work, but the rate of growth eases to a three-month low • Cost inflation moderates to 15-month low Data collected 11–25 July. The seasonally adjusted Markit Flash U.S. Services PMI™ Business Activity Index 1–whichis based on approximately 85% of usual monthly replies–registered 61.0 in July, above the neutral 50.0 threshold and an unchanged reading from June‟s survey-record high. July‟s survey therefore suggests a strong expansion of U.S. service sector business activity so far this summer, and a continued rebound in ... (full story)