Summary
- The U.S. July ISM non-manufacturing purchasing managers index (PMI) came in at 54.1, slightly below the market forecast of 54.5.
- The U.S. services PMI edged up to 54.1 in July from 54.0 the previous month.
- The ISM non-manufacturing PMI signals expansion when it is above 50 and contraction when it falls below 50.
Forecast Trend Report by Period
U.S. services-sector activity in July came in slightly below market expectations.
The Institute for Supply Management's non-manufacturing purchasing managers index, or PMI, stood at 54.1 in July, according to data released on August 5. That was slightly below the market forecast of 54.5. The index was 54.0 in June.
The ISM non-manufacturing PMI is a key gauge of business conditions in the U.S. services sector. A reading above 50 indicates expansion, while a reading below 50 signals contraction.
Uk Jin
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