US Services Growth Lowest in a Year: ISM


The ISM Non-Manufacturing PMI index for the United States fell to 55.7 in July of 2018 from 59.1 in June, well below market expectations of 58.6. It is the lowest reading since August of 2017. Although most firms remain positive about business conditions and the economy, tariffs and deliveries are an ongoing concern.

Slowdowns were seen in production (56.5 from 63.9), new orders (57 from 63.2), new export orders (58 from 60.5), backlog of orders (51.5 from 56.5) and supplier deliveries (53 from 55.5) and inflationary pressures increased (63.4 from 60.7). In contrast, employment (56.1 from 53.6) and imports (52.5 from 51.5) rose faster. 

The 16 non-manufacturing industries reporting growth in July — listed in order — are: Mining; Public Administration; Agriculture, Forestry, Fishing & Hunting; Accommodation & Food Services; Other Services; Construction; Real Estate, Rental & Leasing; Transportation & Warehousing; Finance & Insurance; Retail Trade; Wholesale Trade; Arts, Entertainment & Recreation; Information; Utilities; Health Care & Social Assistance; and Management of Companies & Support Services. The two industries reporting a decrease are: Educational Services; and Professional, Scientific & Technical Services.

US Services Growth Lowest in a Year: ISM


ISM | Joana Taborda | joana.taborda@tradingeconomics.com
8/3/2018 2:10:58 PM