Here comes Markit services PMI ...

Markit Economics will release its preliminary reading on the US service sector at 9:45 a.m. ET.

Economists forecast that the purchasing manager’s index improved to 52 in July from a final June reading of 51.4, according to Bloomberg.

Above 50, the index would indicate that the service sector is still in expansionary territory.

The service sector is the most important to the US economy, as it accounts for two-thirds of economic activity and creates most jobs.

Markit’s prior report showed that employment rebounded from a slump in the prior month, although the overall index pointed to a subdued level of economic growth in the second quarter.

More to come …

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