FX.co ★ US Private Sector Growth Hits Nine-Month High in July

The S&P Global US Composite PMI rose to 54.5 in July 2026 from 51.9 in June, beating the preliminary estimate of 53.6 and signaling the strongest expansion in private sector activity since October 2025. The upturn was led by a quicker pace of growth in the services sector, while manufacturing output continued to increase solidly. New business rose at the fastest rate in 19 months, business confidence strengthened to its highest level since last November, and private sector employment returned to growth for the first time since April. On the price front, input cost inflation quickened to its highest rate since November 2022, driving output price inflation to a one-year high.