The Institute for Supply Management's Non-Manufacturing Composite Index for July came in at 54.1, a slight uptick from 54.0 in June. The New Orders Index jumped to 57.2 from 55.1 the previous month, while the Prices Index rose to 70.3 and the Employment Index declined. Robust new orders point to solid domestic demand at the start of the third quarter, but the data also suggest a reacceleration of price pressures.
