The ISM index fell by 1.2 points, settling at 52.7%. A more marked deceleration than expected since analysts were counting on 53.0%.
Activity in services in the United States continued to grow in July, although less strongly than in June, as new orders and employment slowed, but business leaders remain “reasonably optimistic” for the months to come. come.
The index measuring this activity fell 1.2 percentage points from June, falling to 52.7%, according to the survey by the professional federation ISM published on Thursday.
This is lower activity than expected by analysts, who anticipated a less marked slowdown and saw the index settle at 53.0%, according to the consensus of Briefing.com.
The index nevertheless remains above the 50% mark, indicating that activity is growing. When it is below this bar, activity is in contraction, which, for services, has only happened once in the last three years.
“There has been a slight setback in the growth rate of the service sector. This is mainly due to the decline in the growth rate of activity, new orders and employment, as well as the continued acceleration of delivery times”, detailed the president of the survey, Anthony Nieves. , quoted in the press release.
However, he pointed out, “the majority of respondents are cautiously optimistic about economic conditions.”
Unlike the prices of goods, which are now falling, those of services continue to rise, fueling inflation.
Thus, in June, they had recorded a growth of 4.9% over one year, against a drop of 0.6% for goods, according to the PCE inflation index published Thursday, the one favored by the American central bank. (Fed).
Among the services whose prices have risen the most are financial services and insurance, housing and leisure.
2023-08-03 15:49:16
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