US private‑sector growth hits nine‑month high
By Iain Gilbert
Date: Wednesday 05 Aug 2026
(Sharecast News) - US private‑sector growth accelerated sharply in July, with both S&P Global's services and composite purchasing managers' indexes hitting nine‑month highs as stronger demand, firmer business confidence and rising employment signalled a solid start to the second half of 2026.
The composite PMI rose to 54.5 from 51.9, its strongest reading since October 2025 and above the flash estimate, driven by faster services growth and steady manufacturing output.
New business increased at the quickest pace in 19 months, while confidence climbed to its highest level since last November, and private‑sector employment returned to growth for the first time since April.
The services PMI also strengthened, rising to 54.6, supported by the steepest rise in new orders since late 2025, though export demand weakened amid higher tariffs and Middle East tensions. Input‑cost inflation accelerated to its highest level since November 2022, pushing output‑price inflation to a one‑year high.
Reporting by Iain Gilbert at Sharecast.com
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