The U.S. service industry maintained stable expansion in July, with the ISM index rising to 54.1

According to Jinshi, the U.S. service industry maintained a stable expansion in July, with the ISM Services Index rising by 0.1 points to 54.1, indicating that the industry is in an expansion state. The growth rate of new orders accelerated, and the business activity index rose to a five-month high, showing resilience in consumer demand.

However, service and material costs continue to rise, with the ISM Input Cost Price Index climbing to 70.3, putting pressure on corporate profits, and some companies may delay hiring.