The U.S. PMI Composite Index was revised down to 51.9 in June from the initial estimate of 52.2, while the May reading stood at 51.5, according to S&P Global. The services PMI came in at 51.2, slightly below the flash reading of 51.3 but above the prior month's 50.7. Manufacturing posted a sharp expansion, and services activity accelerated modestly, though the overall pace of growth remains lackluster. Chris Williamson, chief business economist at S&P Global Market Intelligence, noted that the survey data suggest the economy is growing at just a 1.2% annualized rate in the second quarter.