US Services Activity Expand by Most in Four Months on Stronger Demand
- ISM services PMI increased 3.6 points to 53.9 in June
- Gauge of prices paid for inputs lowest since March 2020
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The US service sector expanded in June at the fastest pace in four months as business activity and orders quickened.
The Institute for Supply Management’s overall gauge of services increased 3.6 points — the most since the start of the year — to 53.9 last month. Readings above 50 represent expansion, and the index exceeded all forecasts in a Bloomberg survey of an economists.