“A robust rate of service sector growth helped to underpin the overall upturn in private sector output during June” Markit Economics noted in its latest ‘IHS Markit Flash U.S. PMI,’ report.
Key quotes from the publication
- At 56.5, down slightly from 56.8 in May, the seasonally adjusted IHS Markit Flash U.S. Services PMI Business Activity Index posted its second-highest reading since April 2015.
- Higher levels of service sector activity were supported by another marked rise in new work and a solid rate of job creation in June.
- However, the latest survey also highlighted stronger inflationary pressures.
- Input costs increased at the fastest rate since September 2013.
- Service providers widely commented on higher prices for fuel, staff salaries and steel-related items.
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