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Nonmanufacturing activity decelerates in June

July 03, 2019

Nonmanufacturing activity decelerated in June to its lowest level since July 2017, according to the Institute for Supply Management’s Nonmanufacturing Index released today.

The index was at a reading of 55.1, down from 56.9 in May. However, readings above 50 still indicate growth.

“Although the nonmanufacturing sector’s growth rate dipped in June, the sector continues to reflect strength,” said Anthony Nieves, chair of the institute’s Nonmanufacturing Business Survey Committee. “The comments from the respondents reflect mixed sentiment about business conditions and the overall economy. A degree of uncertainty exists due to trade and tariffs.”

The employment portion of the index also slipped to a reading of 55.0 in June from a reading of 58.1 in May.

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