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U.S. ISM non-manufacturing PMI declines to 52.2 in June

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Investing.com - Service sector activity in the U.S. grew at a slower rate than expected in June, underlining concerns over the U.S. economic outlook, industry data showed on Wednesday.

In a report, the Institute of Supply Management said its non-manufacturing purchasing manager's index fell to 52.2 in June from a reading of 53.7 in May.

Analysts had expected the index to inch up to 54.0 last month.

On the index, a reading above 50.0 indicates the non-manufacturing sector economy is generally expanding, below 50.0 indicates the sector is contracting.

The New Orders Index decreased by 5.2 points to 50.8, and the Employment Index increased 4.6 points to 54.7

Following the release of the data, the U.S. dollar was little changed against the euro, with EUR/USD easing up 0.03% to trade at 1.2986.

Meanwhile, U.S. stock markets were mixed. The Dow Jones Industrial Average fell 0.1%, the S&P 500 index declined 0.3%, while the Nasdaq Composite index added 0.1%.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

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