U.S. Economic Growth Strengthened by Service Sector in July

According to BlockBeats, the chief business economist at S&P Global reported that robust growth in U.S. service sector activity in July helped offset a slowdown in manufacturing. This indicates strong economic growth at the start of the third quarter, which is encouraging. While the average GDP growth rate for the first half of 2025 was 1.25%, the July PMI suggests that the economic growth rate will double to approximately 2.5%.