Markit's U.S. samples are reporting the best strength, though still moderate, so far this year. The July flash for the composite rose 3 tenths from final June to 54.2 while the services index is unchanged, also at 54.2. The manufacturing PMI shows the most acceleration, up 1.2 points from final June to 53.2.
Strength in new orders, especially for services which hit a 2-year high, is the leading plus in today's report with output and employment also positives. Price data are mixed with wages up but fuel bills down and selling prices soft.
The gain for manufacturing is a special plus as are most of the readings, data that point to a pop higher for general activity this summer.