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ISM non-manufacturing index fell to 55.5 in July

Staff Writer | August 4, 2016
The Institute for Supply Management (ISM) said its non-manufacturing index decreased to 55.5 in July from 56.5 in June.
U.S. service sector
American economy   The details of the report were uneven
A reading above 50 signals expansion while a reading below 50 indicates contraction. With July's partial pullback after a sharp rise in June, the headline index has run above the 50 threshold for 78 straight months.

The details of the report were uneven. The business-activity index fell slightly to 59.3 in July from 59.5 the prior month.

The new-orders index was 60.3, inching up from 59.9 in June. The employment index moved lower in July, 51.4 compared with 52.7 in June.

Still, growth was broadly shared in July. A total of 15 non-manufacturing industries tracked by ISM reported growth last month, while just three sectors reported contraction.