US services sector expands a little less than expected in June
The US services sector expanded at a slightly slower-than-expected rate in June, according to figures from the Institute for Supply Management.
The ISM non-manufacturing purchasing managers’ index nudged up to 56.0 in June from 55.7 in May, a touch lower than analysts’ estimates for a reading of 56.4. A reading over 50 indicates expansion.
The new orders gauge rose to 58.3 in June from 57.9 in May.