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Financial data firm Markit said its final
services Purchasing Managers Index hit 60.8 in July, down from
the preliminary reading of 61.0, which was also the reading for
June.
The 61.0 print for June was the highest final reading for any
month since the survey began in October 2009. A reading above 50
signals expansion in economic activity.
"The services sector grew at a rapid pace, just slightly weaker
than June’s post-recession high, accompanied by a surge in
factory production," said Chris Williamson, chief economist at
Markit.
"However, there are signs that growth could cool in coming
months. The surveys indicate that the rate of job creation has
waned, as have inflows of new business."
The new business component slipped last month to 57.3, compared
to the preliminary reading of 57.6 and June's final 60.8.
Confidence about the year-ahead business outlook in the services
sector slipped to the lowest since November 2012.
Markit's final composite PMI, a weighted average of its
manufacturing and services indexes, hit 60.6 in July, also the
second-highest final reading on record, versus 61.0 in June and
a preliminary 60.9.
(Reporting by Rodrigo Campos; Editing by Meredith Mazzilli)
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