US business activity grows at fastest pace since last December
In July 2025, US business activity hit its fastest pace since last December, thanks to a strong boost from the services sector.
The S&P Global Composite PMI climbed to 54.6—up from June's 52.9—showing private sector growth is still going strong, especially with the services PMI beating forecasts at 55.2.
Manufacturing shrank for 1st time in months
On the flip side, manufacturing shrank for the first time in months, with its PMI dropping to 49.5.
Rising costs and weaker demand are making things tough for factories; nearly two-thirds blame tariffs for pricier inputs.
To keep up, many businesses have raised prices—fueling inflation worries and leaving companies cautious about what's next.
What it means for you
If you're curious about how global trends actually hit your wallet or job prospects, this is it:
booming services mean more opportunities in various sectors, but rising prices (and shaky manufacturing) could make a range of goods more expensive down the line.