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🚦Breaking: US flash Composite PMI improved to 54.6 in July

A first look at S&P Global's Composite PMI indicated that US business activity grew faster in July, with the index rising to 54.6 from the previous month’s 52.9. The number, which is over the 50 mark that divides expansion from contraction, suggests that the private sector is gathering traction.

The statistics showed that different industries were performing in a mixed fashion. The Manufacturing PMI dropped from 52.9 to 49.5, which means that manufacturing activity lost momentum. The Services PMI, on the other hand, increased from 52.9 to 55.2, which might mean that demand in the services sector is picking up momentum.

This section below was published as a preview of the US S&P Global PMI data at 08:00 GMT.

The S&P Global flash PMIs for July are seen improving further, suggesting the US economy continued to expand.
Markets expect the Federal Reserve to keep its interest rates unchanged at the end of the month.
EUR/USD manages to regain some pace and flirts with the 1.1700 area.

S&P Global will release on Thursday its preliminary July Purchasing Managers' Indices (PMIs) for the United States, based on surveys of top private sector executives, to provide an early indication of economic momentum.

The report includes three measures: the Manufacturing PMI, the Services PMI, and the Composite PMI (a weighted combination of the two), each calibrated such that numbers above 50 indicate growth and readings below that threshold indicate contraction.

These monthly snapshots, released far ahead of many official figures, analyse everything from production and export patterns to capacity utilisation, employment, and inventory levels, offering some of the earliest signs of the economy's direction.

The Composite PMI ticked down marginally to 52.9 in June from 53.0 the previous month. According to Chris Williamson, Chief Business Economist at S&P Global Market Intelligence, #StablecoinLaw #ETHBreaks3700 #BNBBreaksATH #NFTMarketWatch #SUBROOFFICIAL