Wednesday, July 3, 2013

ISM Non-Manufacturing Decline in June

The ISM non-manufacturing index declined to 52.2 in June, from 53.7 in May. The index has dropped three in the last four months, and June’s reading is the lowest value since early 2010. The non-manufacturing index has now remained above 50 – indicating industry expansion – for 42 consecutive months. Services continue to outperform the manufacturing sector, which had a headline number of 50.9 in the last reading.

Employment improved from 50.1 in May to 54.7 index points.

Aside from employment, the details of the report were weaker. Business output and new orders dropped 4.8 to 51.7 and 5.2 to 50.8 index points, respectively, from the previous month.

Exports fell below the expansionary threshold to a reading of 47.5.

Despite the overall decline in March, the indexes remained above the neutral threshold of 50, signaling an expansion, albeit at a slower rate than the previous month.

Read the ISM release.

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