US: Service sector business activity growth remains sharp in June - Markit

"The seasonally adjusted final IHS Markit U.S. Services Business Activity Index registered 56.5 in June," IHS Markit reported on Thursday.

Key takeaways from the official publication

• Panelists linked the upturn to greater client demand and the acquisition of new customers. 
• New business received also increased sharply, despite the rate of increase softening to a three-month low. 
• The rate of input price inflation matched that seen in May and was consequently the joint-fastest since September 2013. 
• Reflecting improved pricing power amid strong demand conditions, average charges rose further in June. 
• The rate of job creation was the second-fastest since September 2015, with some firms also noting that the launch of new products supported hiring.