USA ISM Services in Line With Expectations

The US ISM services index edged down to 54.0 in June, aligning with market expectations. While overall business activity and new orders slowed, employment saw a boost, partly attributed to seasonal World Cup hiring.

Key Takeaways

• 1.The ISM services index declined by 0.5pt to 54.0 in June, consistent with market expectations.
• 2.Report composition was mixed, featuring a notable decline in new orders but an increase in the employment component, likely boosted by World Cup-related hiring.
• 3.Supply chains are stabilizing, although tariff impacts remain a reported theme and supply pressures persist for AI-related commodities.

Table of Contents

• USA: ISM Services in Line With Expectations
• Disclosure Appendix

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