US Composite PMI Signals Strong Economic Growth

The United States Purchasing Managers' Index (PMI) Composite for July has shown a significant increase, reaching 55.1, according to the final report released by S&P Global on Tuesday. This figure not only surpasses analysts' expectations but also marks a notable jump from June's 52.9.

Service Sector Leads the Charge

The Services PMI Business Activity Index climbed to 55.7 in July, up from 52.9 in the previous month, achieving a seven-month high. This surge in service sector activity has played a pivotal role in offsetting the slowdown observed in the manufacturing sector.

Expert Insights on Economic Growth

"July's PMI data is a testament to the robust economic growth at the onset of the third quarter. With GDP averaging a 1.25% growth rate in the first half of 2025, the current PMI suggests a potential doubling to approximately 2.5%," remarked Chris Williamson, Chief Business Economist at S&P Global.