2023-07-06 14:33:00
The Institute for Supply Management (ISM) released the nonmanufacturing index in June, which rose to 53.9 from 50.3 in the previous month, beating market expectations of 51.0. New orders picked up, while prices paid fell to a three-year low, suggesting service-sector inflation will continue to fall. (2023 REUTERS/Lucy Nicholson)
WASHINGTON (Archyde.com) – The Institute for Supply Management (ISM) index rose to 53.9 in June from 50.3 in June, beating market expectations of 51.0, the Institute for Supply Management said on Wednesday. rice field. New orders picked up, while prices paid fell to a three-year low, suggesting service-sector inflation will continue to fall.
Nonmanufacturing accounts for more than two-thirds of the U.S. economy. An index greater than 50 indicates expansion.
The new orders index rose to 55.5 from 52.9 in the previous month. Exports increased steadily.
The price index fell to 54.1 from 56.2 in the previous month, the lowest level since March 2020.
The employment index is 53.1. The previous month was 49.2.
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