US: Composite PMI Output Index rose to 54.6 in July, up from 53.9 in June

"The final seasonally adjusted IHS Markit The final seasonally adjusted IHS Markit U.S. Composite PMI Output Index rose to 54.6 in July, up from 53.9 in the previous month," IHS Markit announced on Thursday.

Key highlights:

• The latest composite figure signalled a pick up in momentum supported by stronger output growth in both the manufacturing and service sectors
• Manufacturers and service providers saw rates of expansion improve to four- and six-month highs, respectively
• Overall, July’s composite index figure indicated the quickest increase in US business activity since January
• The composite index is based on original survey data from the IHS Markit U.S. Services PMI and the IHS Markit U.S. Manufacturing PMI