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US service growth up in July
The article discusses the performance of the U.S. economy in July, where the services sector experienced its largest growth since November, with an index of 53.6 points, driven by spending related to the World Cup and Independence Day. Meanwhile, the manufacturing sector slowed to its lowest level since March due to declining inventory building and rising energy prices resulting from the war with Iran. The report also noted that this continued growth could be at risk due to escalating conflict and disruptions to supply chains, with GDP growth expected to be around 2% for the third quarter. However, geopolitical events may hinder this recovery.
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