Economics
U.S. Service Industry Expansion Cools From Month-Earlier Record
- ISM gauge declined to 61.7 in August from July reading of 64.1
- Measures of business activity, orders and prices all ease
People dine in West Palm Beach, Florida.
Photographer: Eva Marie Uzcategui/BloombergThis article is for subscribers only.
U.S. service providers expanded at a robust pace in August, though a step slower than the record rate seen a month earlier as a gauge of business activity moderated.
The Institute for Supply Management’s services index fell to 61.7 last month from 64.1 in July. Readings above 50 indicate expansion.