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US output growth accelerates in July, prices rise at slower rate
US business activity growth edged up to its fastest for 27 months in July, according to flash PMI survey data from S&P Global, signalling an encouragingly strong start to the third quarter. Growth disparities widened, however, with the service sector leading the upturn while manufacturing output slipped into decline for the first time in six months. The positive news was further marred by employment growing at a slower rate, and business confidence in the outlook falling for a second month, fueled in part by rising political uncertainty ahead of the Presidential Election. Competitive forces meanwhile meant prices ... (full story)
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