ISM Non-Man­u­fac­tur­ing In­dex Slips to 55.3 in Aug.

The Bond Buyer - - Market News - — Gary E. Siegel

The U.S. ser­vices sec­tor ex­panded in Au­gust as the non-man­u­fac­tur­ing busi­ness ac­tiv­ity com­pos­ite in­dex was 55.3 in the month, com­pared to 53.9 in July, on a sea­son­ally ad­justed ba­sis, the Institute for Sup­ply Man­age­ment re­ported Wed­nes­day.

An in­dex read­ing be­low 50 sig­nals a slow­ing econ­omy, while a level above 50 sug­gests ex­pan­sion.

Econ­o­mists polled by Thom­son Reuters had ex­pected a 56.0 level.

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