Home Squawk US Service Sector Activity Contracts for 6th Month in July

US Service Sector Activity Contracts for 6th Month in July

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A preliminary estimate showed that the IHS Markit US Services PMI fell to 49.6 in July 2020 from 47.9 in the previous month and below market consensus of 51.0.

Component :

  • New business fell at a slightly quicker rate, while pressure on capacity led to a slight increase in workforce numbers.
  • On the price front, input cost inflation edged higher as supplier prices were hiked.