US Service Sector Activity Expanded at Slower Pace in July
- ISM service-sector index fell to 52.7 in July, est. 53.1
- Gauges of employment, business activity declined, prices up
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US service sector activity expanded at a more moderate pace in July, restrained in part by a softening of employment growth.
The Institute for Supply Management’s services index decreased 1.2 points to 52.7 last month, data showed Thursday. Readings above 50 indicate expansion, though the latest figure came in just below expectations.