Business in the US services sector grew less in June than a month earlier. The ISM research institute reported this on the basis of definitive figures.

The purchasing managers’ index (PMI), the measure of activity, was 55.1, compared with 56.9 in May. Economists generally predicted a level of 56.0. A position above 50 indicates growth, below that shrinkage.

The British research firm Markit came up with its own definitive figures about the American services sector. That index recorded a reading for June of 51.5, from 50.7 a month earlier.

Factory orders in the United States fell by 0.7 percent in May compared to a month earlier. The US Department of Commerce announced this.

Economists generally expected a decrease of 0.6 percent. Factory orders fell by a revised 1.2 percent in April. Furthermore, based on a definitive figure, it was reported that orders for durable goods fell by 1.3 percent in May.

Load More Related Articles
Load More By WeeklyNews staff
Load More In Business

Leave a Reply

Your email address will not be published. Required fields are marked *

Check Also

Demand for silver still not satisfied

Since the beginning of the corona crisis, the demand for physical silver has increased sha…