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US Service-Sector Slowdown in July ISM
From wellsfargo.bluematrix.com
The ISM index fell to 50.1, a reading that is consistent with the slowest possible pace of expansion. It is the third-lowest reading since the pandemic year of 2020. While the service-sector is still expanding, that expansion looks like it is girding to a halt (chart). A theme over the past week or so has been a deterioration in the economic data as the lagged effects of trade uncertainty emerge at last. The fact that the ISM services index has only had one monthly reading in contraction territory this year would appear to signal the service sector has been more resilient to the impact of tariffs. We have actually ... (full story)
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Economic activity in the services sector grew in July for the second consecutive month, say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The Services PMI® indicated expansion at 50.1 percent, above the 50-percent breakeven point for the 12th time in the last 13 months. The report was issued today by Steve ...
More disappointing US data today in the form of the July ISM services index, which fell to 50.1 from 50.8, rather than rise to 51.5 as predicted by the consensus. As with the manufacturing ISM survey from last Friday, this was weaker than anyone surveyed predicted. Employment fell to 46.4 from 47.2, which doesn't bode well for August's jobs report given we ...
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