💎 Fed’s first rate cut since 2020 set to trigger market. Find undervalued gems with Fair ValueSee Undervalued Stocks

U.S. service sector growth slows slightly in June: ISM survey

Published 07/03/2014, 10:42 AM
U.S. service sector growth slows slightly in June: ISM survey

NEW YORK (Reuters) - The pace of growth in the U.S. services sector slowed slightly in June as business activity decelerated, even as new orders and employment growth sped up, according to an industry report released on Thursday.

The Institute for Supply Management said its services index ticked down to 56.0 last month from 56.3 in May, which was a nine-month high. The reading fell shy of economists' forecasts for 56.3, according to a Reuters survey.

© Reuters. A waiter serves green champagne during a St Patrick's Day reception at the White House

A reading above 50 indicates expansion in the sector.

Non-manufacturing business activity slipped to 57.5 in June from 62.1 in May, but the new orders index rose to 61.2, the highest since January 2011, from 60.5 in May. Employment rose to 54.4, a five-month high, from 52.4.

(Reporting by Rodrigo Campos; Editing by Meredith Mazzilli)

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.