US business activity growth accelerated to its fastest for 26 months in June, according to provisional PMI survey data from S&P Global, signalling a strong end to the second quarter. The service sector led the upturn with additional support from manufacturing, albeit with the latter’s recent revival losing some momentum. Improved business confidence for the year ahead, notably in the service sector, as well as renewed pressure on operating capacity from rising demand, meanwhile encouraged firms to boost payroll numbers for the first time in three months. The survey’s gauge of selling price inflation meanwhile ... (full story)