Growth in the US private sector finally decelerated in July, according to S&P Global's composite PMI, which came in at 54.3 in final data, versus 55 in flash estimates and 54.8 for the previous month.

For the record, the 50-point threshold separates expansion and contraction in a sector's activity: the higher the PMI above this threshold, the faster the pace of expansion.

Nevertheless, the level of the index reflects a solid expansion of overall activity in the United States, with a rise in new business and an increase in corporate employment for the second month in a row.

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