US Services PMI for July Comes in at 54.1, Below Market Expectations
Macro
The US Services Purchasing Managers' Index for July, released by the Institute for Supply Management, came in at 54.1, below the market expectation of 54.5. Business activity rose 3.7 points from the previous month to 59.1, and new orders also increased 2.1 points to 57.2, while employment fell 3.8 points to 47.4. The prices index rose to 70.3 from 67.7 in the previous month.
