U.S. financials sector records sharper growth in June

The IHS Markit U.S. Sector PMI data showed that the U.S. financials sector recorded sharper growth in June. Financial services company’s business activity grew at the most rapid rate since November 2016 after the election of President Trump. In the second quarter as a whole, the technology sector topped the growth rankings. Furthermore, the pace of growth accelerated for the third straight month in June to reach the highest since March 2015.

Healthcare was the only other sector monitored to record a faster rise in output, which rose it off the bottom of the rankings. The only sector that saw a decline in activity in June was consumer services, the first such contraction since January 2016 and the fifth consecutive drop since the series start in October 2009. Output in the broad industrials sector rose for the fifteenth straight month in June, but at the softest rate since September 2016.

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