Mumbai, June 24 -- US business activity continued to grow in June, though the overall rate of expansion lost a little momentum to remain well below those seen late last year.
Falling exports of goods and services acted as a drag on growth, in part offset by stock building by US companies, often linked to concerns over tariffs.
Tariffs were also widely blamed on higher prices. These rose at an especially sharp and increased rate in manufacturing, but also continued to rise steeply in services.
Companies meanwhile struggled to meet rising workloads, with backlogs of work increasing at the fastest rate for over three years and encouraging firms to take on additional staff to the greatest degree for a year. However, confidence in the outlook...