U.S. service sector growth slows slightly in June: ISM survey

NEW YORK Thu Jul 3, 2014 10:42am EDT

A waiter serves green champagne to guests during a St. Patrick's Day reception hosted by President Barack Obama in the East Room of the White House in Washington, March 17, 2009.     REUTERS/Jason Reed

A waiter serves green champagne to guests during a St. Patrick's Day reception hosted by President Barack Obama in the East Room of the White House in Washington, March 17, 2009.

Credit: Reuters/Jason Reed

Related Topics

NEW YORK (Reuters) - The pace of growth in the U.S. services sector slowed slightly in June as business activity decelerated, even as new orders and employment growth sped up, according to an industry report released on Thursday.

The Institute for Supply Management said its services index ticked down to 56.0 last month from 56.3 in May, which was a nine-month high. The reading fell shy of economists' forecasts for 56.3, according to a Reuters survey.

A reading above 50 indicates expansion in the sector.

Non-manufacturing business activity slipped to 57.5 in June from 62.1 in May, but the new orders index rose to 61.2, the highest since January 2011, from 60.5 in May. Employment rose to 54.4, a five-month high, from 52.4.

(Reporting by Rodrigo Campos; Editing by Meredith Mazzilli)

FILED UNDER:

Recommended Newsletters

Reuters U.S. Top News
A quick-fix on the day's news published with Reuters videos and award-winning news photography and delivered at your choice of one of four times during the day.
Reuters Deals Today
The latest Reuters articles on M&A, IPOs, private equity, hedge funds and regulatory updates delivered to your inbox each day.
Reuters Technology Report
Your daily briefing on the latest tech developments from around the world from Reuters expert tech correspondents.