Economics
Below-Forecast U.S. Services Index Shows Firms’ Optimism Easing
Shoppers browse shoes at a Sam Edelman store inside the Oculus shopping mall in New York, U.S., on Thursday, April 13, 2017. Bloomberg is scheduled to release U.S. weekly consumer comfort figures on April 27.
Photographer: Stephanie Keith/BloombergThis article is for subscribers only.
America’s service industries expanded in July at the weakest pace in almost a year, indicating firms making up the biggest part of the economy tempered their optimism, a survey from the Institute for Supply Management showed Thursday.
The abrupt slowdown at service industries is at odds with ISM manufacturing data this week showing factory managers were more upbeat than their counterparts who represent almost 90 percent of the economy.