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Growth in the U.S. services economy continued in June, according to two closely watched measures of business activity.
The Institute for Supply Management (ISM) and S&P Global released their June services data on Monday. The ISM index declined while the S&P Global index edged up, although both remained firmly above the 50-point threshold separating expansion from contraction.
Together, the readings suggest that the services sector, which accounts for more than two-thirds of U.S. economic output, remains resilient despite geopolitical uncertainty and persistent cost pressures.
S&P Global’s U.S. Services Purchasing Managers’ Index (PMI) rose a modest 0.5 points in June to 51.2, just below forecasts of 51.3. The reading marked the strongest expansion in four months, following the outbreak of the United States and Israel’s war with Iran….
The Institute for Supply Management (ISM) and S&P Global released their June services data on Monday. The ISM index declined while the S&P Global index edged up, although both remained firmly above the 50-point threshold separating expansion from contraction.
Together, the readings suggest that the services sector, which accounts for more than two-thirds of U.S. economic output, remains resilient despite geopolitical uncertainty and persistent cost pressures.
S&P Global’s U.S. Services Purchasing Managers’ Index (PMI) rose a modest 0.5 points in June to 51.2, just below forecasts of 51.3. The reading marked the strongest expansion in four months, following the outbreak of the United States and Israel’s war with Iran….
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