U.S. Services Index Indicates Slightly Slower Growth In September

RTTNews | 1064 dagar sedan
U.S. Services Index Indicates Slightly Slower Growth In September

(RTTNews) - The Institute for Supply Management released a report on Wednesday showing a modest slowdown in the pace of growth in U.S. service sector activity in the month of September.

The ISM said its services PMI edged down to 56.7 in September from 56.9 in August, although a reading above 50 still indicates growth in the sector. Economists had expected the index to dip to 56.0.

"Growth continues — at a slightly slower rate — for the services sector, which has expanded for all but two of the last 152 months," said Anthony Nieves, Chair of the ISM Services Business Survey Committee.

He added, "The services sector had a slight pullback in growth for the month of September due to decreases in business activity and new orders."

The report showed the business activity index slid to 59.1 in September from 60.9 in August, while the new orders index fell to 60.6 from 61.8.

Meanwhile, the employment index climbed to 53.0 in September from 50.2 in August, indicating the second straight month of job growth in the service sector.

The ISM also said the prices index decreased for the fifth consecutive month, dropping to 68.7 in September from 71.5 in August.

On Monday, the ISM released a separate report showing activity in the U.S. manufacturing sector slowed by more than expected in the month of September but still saw continued growth.

The ISM said its manufacturing PMI fell to 50.9 in September from 52.8 in August, while economists had expected the index to edge down to 52.2.

With the bigger than expected decrease, the manufacturing PMI dropped to its lowest level since hitting 43.5 in May 2020.

read more
U.S. Job Openings Fall To Ten-Month Low In July

U.S. Job Openings Fall To Ten-Month Low In July

Job openings in the U.S. fell to their lowest level in ten months in July, according to a report released by the Labor Department on Wednesday. The Labor Department said job openings dipped to 7.181 million in July after tumbling to a downwardly revised 7.357 million in June.
RTTNews | 3h 12minuter sedan
U.S. Factory Orders Slump Roughly In Line With Estimates In July

U.S. Factory Orders Slump Roughly In Line With Estimates In July

A report released by the Commerce Department on Wednesday showed an extended slump by new orders for U.S. manufactured goods in the month of July. The Commerce Department said factory orders fell by 1.3 percent in July after plunging by 4.8 percent in June. Economists had expected factory orders to decrease by 1.4 percent.
RTTNews | 4h 19minuter sedan
U.S. Construction Spending Unexpectedly Edges Lower In July

U.S. Construction Spending Unexpectedly Edges Lower In July

A report released by the Commerce Department on Tuesday showed construction spending in the U.S. unexpectedly edged slightly lower in the month of July. The Commerce Department said construction spending slipped by 0.1 percent to an annual rate of $2.139 trillion in July after falling by 0.4 to a revised rate of $2.141 trillion in June.
RTTNews | 1 dag sedan
Chicago Business Barometer Slumps Much More Than Expected In August

Chicago Business Barometer Slumps Much More Than Expected In August

MNI Indicators released a report on Friday showing a sharp pullback by its reading on Chicago-area business activity in the month of August. The report said the Chicago business barometer tumbled to 41.5 in August after jumping to 47.1 in July, with a reading below 50 indicating contraction. Economists had expected the business barometer to edge down to 46.0.
RTTNews | 5 dagar sedan
U.S. Consumer Prices Increase In Line With Estimates In July

U.S. Consumer Prices Increase In Line With Estimates In July

Consumer prices in the U.S. increased in line with economist estimates in the month of July, according to closely watched data released by the Commerce Department on Friday. The Commerce Department said its personal consumption expenditures (PCE) price index rose by 0.2 percent in July after climbing 0.3 percent in June. The uptick matched expectations.
RTTNews | 5 dagar sedan