02:45 PM BST, United States - PMI Data for July:
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S&P Global Composite PMI: actual 54.6; previous 52.9;
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S&P Global Manufacturing PMI: actual 49.5; forecast 52.7; previous 52.9;
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S&P Global Services PMI: actual 55.2; forecast 53.0; previous 52.9;
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Create account Try a demo Download mobile app Download mobile appWhile services expanded more than anticipated, the manufacutirng sector has contracted unexpectedly. Output rose overall, but factory production slowed and new orders in manufacturing declined slightly amid falling exports and tariff impacts.
Employment increased for a fifth month, mainly in services, where backlogs surged. In contrast, manufacturing saw job cuts as backlogs shrank. Price pressures intensified, with both input and output costs rising—largely due to tariffs and labor costs. Services led the increase in selling prices.
Despite current momentum, business confidence fell sharply, reflecting concerns over tariffs and federal spending cuts. EURUSD expanded above 1.777 after data release.
Source: xStation5
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