Business sentiment in the U.S. services sector returned to expansion in July, after plummeting in June at the fastest pace since May 2020 and potentially quelling recent market concerns on an ongoing recession for the world's largest economy.
The ISM Services Purchasing Managers' Index (PMI) barometer rose from 48.8% to 51.4%, outpacing expectations of a surge to 51.
A similar services-related survey, released by S&P Global, confirmed expansionary conditions for the U.S. private sector activity, although at a slower-than-expected pace. The S&P Global Composite PMI edged down from 54.8 to 54.3, missing an increase to 55. The S&P...
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