Investing.com – Economic activity in the U.S. non-manufacturing sector grew at a slower than expected pace in June, industry data showed on Tuesday.
In a report, the Institute of Supply Management said its non-manufacturing purchasing manager's index rose to 53.8 in June, after rising to 55.4 in May.
Analysts had expected an advance to 55.1 in June.
A reading above 50 indicates the non-manufacturing sector economy is generally expanding; below 50 indicates the sector is generally contracting.
The report said sixteen industries including Real Estate and Rental & Leasing reported increased business activity in June while only one industry, Health Care & Social Assistance, reported decreased activity for the month.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD gaining 0.66% to hit 1.2622.
In a report, the Institute of Supply Management said its non-manufacturing purchasing manager's index rose to 53.8 in June, after rising to 55.4 in May.
Analysts had expected an advance to 55.1 in June.
A reading above 50 indicates the non-manufacturing sector economy is generally expanding; below 50 indicates the sector is generally contracting.
The report said sixteen industries including Real Estate and Rental & Leasing reported increased business activity in June while only one industry, Health Care & Social Assistance, reported decreased activity for the month.
Following the release of the data the U.S. dollar was down against the euro, with EUR/USD gaining 0.66% to hit 1.2622.