US services activity contracts unexpectedly as orders shrink

By Agence France-Presse

Jul 05, 2024 12:07 am

WASHINGTON, D.C. ― US services sector activity shrank unexpectedly in June due in part to a pullback in new orders and employment, according to survey data released on Wednesday.

The Institute for Supply Management's (ISM) services index came in at 48.8 percent last month, notably lower than May's 53.8-percent figure.

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