Mumbai, June 24 -- US business activity expanded for a third consecutive month in June, with the flash S&P Global US PMI Composite Output Index rising from 51.5 in May to 52.2, marking the strongest output growth since January. However, overall growth remained weaker than at the start of the year.
The survey highlighted a split economy, with modest service sector growth contrasting with strong manufacturing performance. While service activity recorded its fastest increase since February, growth in output and new orders remained subdued as businesses cited high prices, elevated interest rates and weak customer confidence. Manufacturing output, meanwhile, grew at its fastest pace since July 2021, supported by the strongest rise in new orders...