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Post by bot on Jul 24, 2018 15:24:09 GMT -5
U.S. economy growing steadily in July, Markit PMIs show
WASHINGTON (MarketWatch) - The manufacturing and service sides of the U.S. economy showed steady and rapid growth in July, according to a preliminary or "flash" reading by IHS Markit. The manufacturing index rose a tick to 55.5 from 55.4. The services index slipped to 56.2 from 56.5. Readings over 50 indicate growth. The latest report indicates the economy continued to expand in midsummer at a healthy pace despite heightened tensions over trade. The biggest worry for companies are rising prices. IHS Markit said the increase in what companies charge rose at the fastest clip since the firm first began to collect information in the fall of 2009.
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