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ISM: Service-Sector Growth Slows to Three-Year Low in June

Reuters (07/03/13) Leah Schnurr

Service-sector growth slowed to the lowest level in three years this June, even as employment rose. The Institute for Supply Management’s services index fell to 52.2 in June from 53.7 in May. While a reading above 50 indicates expansion, the latest reading nevertheless is at the lowest level since February 2010. The new orders index dropped to 50.8 from 56, its lowest level since July 2009. However, the employment index climbed to 54.7 from 50.1.