by Mike ‘Mish’ Shedlock
The Markit Flash Service PMI now sits at 50.9, barely above contraction. This is the weakest rise in five months.
Service Sector Activity
[…] Key Findings
- Growth of activity eases to five-month low in July
- New orders and employment rise again
- Business sentiment picks up following dip in June
July data suggested that growth in the U.S. service sector remained muted, with activity rising at the weakest pace in the current five-month sequence of expansion. A slower increase in new business was also recorded. On a more positive note, the rate of job creation picked up slightly and business sentiment improved markedly from June’s record low. On the price front, slower increases were registered for both input costs and output prices during the month.