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“The seasonally adjusted final IHS Markit U.S. Services Business Activity Index registered 56.0 in July, down from 56.5 in June,” IHS Markit announced on Friday.

Key quotes from the publication

  • Service sector business activity growth remains sharp, but prices charged rise at fastest rate in almost four years.
  • Business activity upturn one of the strongest in last three years.
  • New business expands at weakest rate for six months.
  • Input price inflation eases, but charges rise at accelerated pace.
  • Employment growth eased to a five-month low.