U.S. private job growth slowed in July, but a surge in services industry activity to a near-decade high suggested solid economic momentum that strengthens the case for a Federal Reserve interest rate hike this year. The firm domestic fundamentals were underscored by another report on Wednesday showing an increase in imports of food, automobiles, industrial supplies and consumer goods in June. “This will be interpreted as very good news for the Fed and will be seen as further confirmation of progress towards meeting its growth targets.