U.S. private job gains in June largest in 1-1/2 years

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U.S. private-sector hiring hit a 1-1/2-year high in June, reinforcing views that momentum was building to carry the economy through the rest of the year after a dismal start.

Wednesday’s report from payrolls processor ADP added to other bullish data ranging from manufacturing to auto sales that has suggested the economy has bounced back smartly after a first-quarter slump.

“This is further proof that recent weaker growth numbers are not a true reflection of the U.S. economy,” said Stuart Hoffman, chief economist at PNC Financial Services in Pittsburgh.

Read More At Reuters.