June data signalled a further expansion of activity across the US service sector, according to the latest PMI™ data from S&P Global. Output continued to rise at a solid pace as the demand environment improved, spurring a strong upturn in new orders. Domestic and foreign client demand supported new business growth, as new export orders rose for a second month running. Subsequently, firms were more upbeat in their year-ahead expectations for activity and sought to expand employment accordingly. Job creation was also linked to greater pressure on capacity as backlogs of work returned to growth. Supplier shortages, ... (full story)