Reported about 1 year ago
U.S. business activity in June reached a 26-month high with a rebound in employment while price pressures decreased significantly, hinting at a sustained slowdown in inflation. The S&P Global's flash U.S. Composite PMI Output Index rose to 54.6, the highest level since April 2022. Although hard data suggests a slowdown in retail sales and housing starts, the economy seems to have ended the second quarter on a positive note. The Federal Reserve's interest rate hikes and easing inflation pressures may lead to a potential rate cut this year.
Source: YAHOO