Global Economy Relies on Consumer Spending as US and UK Face Challenges
TL;DR Summary
The S&P Global "flash" US service sector activity index fell to 54.1 in June, while the manufacturing sector index slid to 46.3, indicating contraction. New orders in the services sector increased at a strong rate, while manufacturers recorded the fastest rate of contraction in new orders since last December. Inflation was seen as moderating, and the overall rate of selling prices for goods and services dropped to the lowest level since late 2020. S&P Global predicts that the US economy is running close to a 2% growth rate in the second quarter.
- U.S. economy running close to 2% growth rate in second quarter, S&P says MarketWatch
- Consumers, Not Factories, Are Carrying the Global Economy Yahoo Finance
- US business activity growth slows in June but services keep humming along Reuters.com
- UK Economy Falters On Cost-of-living Crisis Barron's
- Quarter of UK services companies report rising prices for customers Financial Times
- View Full Coverage on Google News
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