US service industry PMI rises to 28 month high
According to preliminary data, the S&P global service PMI rose to 56 in 2024/7, reaching a high level for the first time in 28 months from 55.3 in June, exceeding the market forecast of 55.
The inflow of new businesses rapidly accelerated and increased at a pace for the first time in over a year.
However, salary growth has slowed compared to June.
The rate of increase in service fees was at a low level for the first time in almost 4 years, but input costs rose at a faster pace.
Nevertheless, optimism about future production declined due to uncertainty surrounding upcoming presidential elections and possible policy changes.
Businesses also expressed concern about continuing to rise in the cost of living, which could affect inflation and interest rates.
Source: S&P Global
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181301798 : The indicator data is mixed, good or bad, and if you go to the presidential election normally, it will take the form of Trump vs. Harris, and the Fed will definitely cut interest rates once this year, and what is uncertain, compared to the previous period when the Fed continued to raise interest rates, it remains unchanged and the situation where policy interest rates are finally lowered while watching the state of the economy; if you think about it positively, inflation continues to subside little by little, and I think it's getting better at all, but things are getting better at all, I wonder what will happen if it's just an immediate thing, what to do when it goes down, because I only think negatively about how sales will lead to sales, and how the world will change in the future a little further away, and it's strange what kind of companies will generate profits in order to do so, and it's impossible to think about what kind of companies will generate profits in order to do so