US Services PMIs Rise with Intensifying Price Pressures; Euro Area Producer Prices Fall

The US ISM Services PMI ticked up to 54.1 and the S&P Global Services PMI jumped to 54.6, indicating the fastest pace of expansion in nine months, though price pressures intensified due to tariff-linked input costs. In contrast, Euro area producer prices fell 0.3% month-on-month in June, marking the first decline in four months, primarily driven by a 1.5% fall in energy prices. The UK Composite PMI also rose to 52.2, its strongest reading since April, despite continued falling employment and easing output price inflation.