FILE PHOTO: A woman shops in a supermarket as rising inflation affects consumer prices in Los Angeles
A reading above 50 indicates expansion in the private sector. A pick-up in the services sector offset an easing in the manufacturing industry. The S&P Global survey's measure of new orders received by private businesses slipped to 52.9 from 53.1 in June. Its measure of prices paid by businesses for inputs increased to 57.8 from 56.5 in June. That reflected rising raw material, shipping and labor costs. Higher wages in the services sector remained a factor.But the survey's gauge of prices charged slipped to 53.1 from 53.8 in June, the slowest rate since January and the second slowest since October 2020.
Its flash services PMI rose to 56.0, a 28-month high from 55.3 in June, confounding economists' expectations for a drop to a reading of 55.0. S&P Global said sentiment about the future continued to be adversely impacted by uncertainty regarding the November presidential election and resulting policies.Spot ether ETFs have reportedly accrued $10.2 billion in assets across just nine funds since firms began trading the ethereum-exposed products on Tuesday.