US: Services PMI eases to 56.2 in July to fall short of market expectation of 56.5 - Markit

"The seasonally adjusted IHS Markit Flash U.S. Services PMI Business Activity Index eased to 56.2 in July, from 56.5 in June," Markit Economics reported today.

Key takeaways from the official publication

• The latest reading signalled a robust rise in service sector output, but the rate of expansion was the slowest since April.
• There were signs of reduced pressure on operating capacity in July, despite another sharp rise in new business intakes.
• Business optimism regarding the year ahead outlook improved slightly in July.
• Input cost inflation remained close to the four-and-a-half year peak seen in May.
  • Higher fuel prices were frequently cited by survey respondents.