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US Business activity growth accelerates to eight-month high in July, but selling prices rise at fastest rate for nearly four years
US business activity growth accelerated at the start of the third quarter, according to provisional PMI® survey data, reaching an eight-month high and prompting firms to add staff for the first time in three months. Business confidence in the year-ahead outlook also rose to an eight-month high. However, the improvement was confined to services, while manufacturing growth slowed sharply. Supplier delays meanwhile worsened to the greatest extent in nearly four years amid the ongoing conflict in the Middle East. Price pressures also intensified, with input cost inflation reaching a 14-month high and selling price ... (full story)
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