Photo by Michał Ludwiczak on Pexels.com
U.S. business activity in June 2024 saw significant growth, with the S&P Global Services PMI rising to 55.1 and the Manufacturing PMI to 51.7, marking the fastest expansions in 26 and 3 months respectively.
Both sectors experienced increased output, with service sector employment growing for the first time in three months and manufacturing jobs rising at the fastest rate in 21 months. Although input prices grew at a slower rate, inflation remained above pre-pandemic levels.
Optimism in the service sector was high due to expectations of lower interest rates and reduced cost-of-living pressures. However, manufacturing sentiment declined due to future demand and policy uncertainty.
The strong performance in both sectors suggests a positive outlook for the U.S. economy in the second quarter of 2024, with the Fed likely to maintain a cautious approach towards interest rate cuts, possibly starting in late 2024.
The opening ceremony witnessed the presence of senior representatives from diplomatic missions, government agencies, trade…
Malaysian businesses prepare for US-Iran tensions by strengthening risk strategies to ensure stability amid potential…
The US will impose 10% to 12.5% tariffs on 60 trading partners over forced labor…
KIPREIT posts record FY26, strong outlook with Setapak Central acquisition, AEIs, and rental reversions supporting…
Analysts expect cautious trading in KLCI today due to Wall Street declines, new tariffs, and…
Rystad warns oil prices hinge on resilience of flows, with escalation risks tightening markets and…
This website uses cookies.
