ISM Services Index Unexpectedly Gains in July, With Increases in New Orders
Seeking Alpha2022-08-03
- July ISM Services PMI Index: 56.7 vs. 53.0 consensus and 55.3 in June, marking the 26th straight month of services sector growth.
- Business Activity Index: 59.9 vs. 56.1 prior.
- New Orders: 59.9 vs. 55.6
- Employment: 49.1 vs. 47.4
- Prices: 72.3 vs. 80.1
- Inventories: 45.0 vs. 47.5
- Supplier Deliveries: 57.8 s. 61.9
"The composite index indicated growth for the 26th consecutive month after a two-month contraction in April and May 2020. Growth continues — at a faster rate — for the services sector, which has expanded for all but two of the last 150 months," said Anthony Nieves, chair of the Institute for Supply Management Services Business Survey Committee.
Earlier, PMI Composite Index rises slightly above consensus in July
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.
