Mumbai, July 4 -- A further increase in US service sector business activity was recorded in June, although the rate of growth lost some momentum compared to May and remained well below levels recorded in the second half of 2024. New work volumes showed a similar trend, with international sales continuing to act as a drag on total business gains.
Tariffs meanwhile underpinned a further steep increase in operating expenses and selling prices, although inflation rates softened compared to May. Confidence in the outlook also remained below par, but firms were sufficiently optimistic to add jobs at the fastest rate for five months.
The S&P Global US Services PMI Business Activity Index registered 52.9 in June. That was down from 53.7 in May to...