USA: services sector expands in July

(CercleFinance.com) - Growth in the US service sector decelerated slightly last month, with the S&P Global PMI index coming in at 55, compared with 55.
3 in June, marking the 18th consecutive month of expansion in the sector.

The ISM (Institute for Supply Management) index for the non-manufacturing sector, also signalling growth in US services, came in at 51.4 for July, after 48.8 the previous month.

For the record, the 50-point threshold separates expansion and contraction in a sector's activity for the PMI and ISM indices: the higher these indices are above this threshold, the faster the pace of expansion.

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