U.S. Services PMI Rises to 55.7 in July, Highest Level of the Year

Services PMI Data

• 📊 The Services PMI for July final reading improved to 55.7, up from the mid-month 55.2.
• 📈 This figure represents the highest level of the year, surpassing readings from December of last year.
• 🚀 The composite figure also saw an increase, moving from 54.6 to 55.1, marking its best performance since December.

Economic Context

• ⚠️ The services sector is highlighted as the largest segment of the U.S. economy.
• 📉 The report notes that U.S. Treasury yields are hovering in the low 4.20s and 4.30s for the third consecutive session.
• 🎢 This period of compact ranges follows the significant market movement experienced after Friday's jobs report.