Global Growth Strengthens as Markets Eye US Inflation - Davy

US services activity continued to expand, although the main surveys gave differing signals on momentum. The S&P Global Services PMI rose to 58.8 from 56.5, its strongest reading since July 2021, while the ISM measure eased to 54.9 from 55.4. Fed minutes indicated that most officials still saw another rate hike as likely appropriate by year-end. Elsewhere, services activity strengthened across Europe, with Eurozone private-sector growth reaching its strongest pace in nearly three and a half years. UK activity also improved, with the Composite PMI rising to 54.4, signalling the fastest growth in six months. The Reserve Bank of India raised rates by 25bps to 5.