U.S. Service Sector Activity Unexpectedly Rises in July

2022.08.03 17:37

By Scott Kanowsky 

Investing.com — Non-manufacturing activity in the U.S. jumped in July, according to data from the Institute for Supply Management on Wednesday, despite fears that an inflation-driven slump in the broader economy will lead to a slowdown in America’s crucial services sector.

ISM non-manufacturing purchasing managers’ index rose to 56.7 during the month, growing from 55.3 in June and far above estimates of 53.5. Any number above 50 suggests expansion.

The dollar index was trading higher by 0.32% in the wake of the release.

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