Service sector activity is cooling, not buckling

Summary

The message from the June ISM report is that service activity is cooling rather than buckling. Business activity rose during the month and while new orders declined, the index remains above the 50-threshold designating expansion from contraction. Service-providers continue to contend with an array of supply issues, which are limiting capacity and keeping the heat turned up on prices.

Source: Institute for Supply Management and Wells Fargo Economics

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