US S&P Global Services PMI Rises to 54.6 in July, Marking Sharpest Expansion in Nine Months

The final S&P Global US Services PMI for July 2026 increased to 54.6, up from 51.2 in June and exceeding the flash estimate of 53.6. This indicates the strongest expansion in service sector activity in nine months, driven by the steepest rise in new work since November 2025. However, input cost inflation reached a 14-month high due to tariffs and energy-related price increases, leading to a significant increase in prices charged for services.