(ABM FN-Dow Jones) Economic activity in the services sector in the United States was lower than expected in June, and industrial growth slowed significantly. This was revealed by S&P Global’s preliminary data on Thursday.
The index of pre-purchase managers for the service sector fell from 53.4 to 51.6. Here the figure of 53.3 was expected.
The Product Purchasing Managers index fell from 57.0 to 52.4. A very small drop to 56.0 was expected here.
The mixed buying managers’ index fell to 53.2 in June from 53.6 in May, the lowest level in five months.
“Growth has slowed sharply,” said Markit economist Chris Williamson. He says more opportunities are not favorable. He expects the U.S. economy to shrink in the third quarter as demand for goods and services falls sharply in June.
An index above 50 indicates growth, while a level below 50 indicates contraction.
Source: ABM Financial News
From Beursplein 5, the authors ABM Financial News Strictly monitor the progress of the stock markets and especially the Amsterdam Stock Exchange. The information in this column is not for professional investment advice or recommendation for making specific investments.
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