US output growth accelerates in July, prices rise at a slower pace
July 24, 2024
US business activity growth rose at its fastest pace in 27 months in July, signalling a strong start to the third quarter, according to S&P Global’s flash report. However, growth varied by sector, with the services sector leading the recovery, while manufacturing output fell for the first time in six months. The positive signs were somewhat dampened by a slowdown in employment growth and a second month of declining business confidence, mainly due to rising political uncertainty, heightened by the run-up to the presidential election.