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“The seasonally adjusted final IHS Markit U.S. Services Business Activity Index registered 56.5 in June,” IHS Markit reported on Thursday.

Key takeaways from the official publication

  • Panelists linked the upturn to greater client demand and the acquisition of new customers.  
  • New business received also increased sharply,  despite the rate of increase softening to a three-month low.  
  • The rate of input price inflation matched that seen in May and was consequently the joint-fastest since September 2013.  
  • Reflecting improved pricing power amid strong demand conditions, average charges rose further in June.  
  • The rate of job  creation was the second-fastest since September 2015, with some firms also noting that the launch of new products supported hiring.