By Joshua KirbyU.S. services activity continued to grow in July for the seventh straight month, indicating continued strength in the sector. Any reading over 50 marks expansion in the sector, which has grown every month since the beginning of the year, and almost every month for the last three years. "There has been a slight pullback in the rate of growth for the services sector, " said Anthony Nieves, chair of the ISM Services Business Survey Committee. The supplier deliveries index meanwhile rose to 48.1, indicating a lessening of the pace of deliveries in the month. Fourteen of 18 industries surveyed by the ISM expanded in July, including construction, accommodation & food services, real estate and retail.

Source: Wall Street Journal August 03, 2023 20:38 UTC