In May, the ISM Non-Manufacturing Index registered 54.6%, indicating continued growth in the non-manufacturing sector for the 18th consecutive month. A reading above 50% indicates the non-manufacturing sector economy is generally expanding; below 50% indicates the non-manufacturing sector is generally contracting.
Small increases were reported in most categories. The employment index reported a small increase which parallels the small gain the service sector posted in today’s employment report. The relatively stronger employment increase in the ISM Index may indicate that the downturn in employment will be short-lived.
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