The figure came in stronger than the preliminary estimate S&P Global published two weeks ago, which had put the reading at 53.6. The survey points to “an encouraging acceleration in economic growth” at the start of the quarter, said Chris Williamson, chief business economist at S&P Global Market Intelligence. Service firms added workers at the fastest rate in eight months, and private employers as a group added staff for the first time since April. Service firms told S&P Global their expenses rose at the fastest pace since May 2025, citing tariffs, raw materials and fuel. Both surveys found companies crediting the World Cup and expanded Fourth of July events for a burst of consumer spending.