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NewsBreak: ISM Services Index Tumbles to 3-Year Low

Published 10/03/2019, 10:09 AM
Updated 10/03/2019, 10:12 AM
ESZ24
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Investing.com - The latest measure of U.S. services activity came in below expectations Thursday, adding further to worries about a sustained slowdown in the economy. The Institute of Supply Management said its non-manufacturing index fell to its lowest level since August 2016. That comes on the heels of its manufacturing measure hitting a 10-year low.

  • The ISM non-manufacturing PMI fell to 52.6 for September from 56.4 in August.

    • The PMI came in lower than the expectations of analysts, who expected a drop to 55, according to forecasts compiled by Investing.com.

  • S&P 500 futures were down 0.7%, falling sharply after the report.

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