×
Newsmax TV & Webwww.newsmax.comFREE - In Google Play
VIEW
×
Newsmax TV & Webwww.newsmax.comFREE - On the App Store
VIEW
Tags: economy | services | ism | firms

ISM: US Services Firms Grew in June at Fastest Pace in 7 Months

ISM: US Services Firms Grew in June at Fastest Pace in 7 Months
Woman wearing headset. (Stock Photo Secrets/Photographer: Phovoir)

Wednesday, 06 July 2016 11:02 AM EDT

U.S. services firms expanded last month at the fastest pace since November, good news for the U.S. economy.

The Institute for Supply Management says its non-manufacturing index rose to 56.5 in June from 52.9 in May. Any reading above 50 signals growth. Production, new orders and export orders grew faster in June. Employment grew last month after contracting in May.

Services have been a source of strength for the American economy. The ISM services index has shown growth for 77 straight months.

Employees of private services companies hold 71 percent of American jobs (not including farm workers), and services firms account for 94 percent of the 12.9 million jobs created since the Great Recession ended in June 2009.

© Copyright 2023 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.


Economy
U.S. services firms expanded last month at the fastest pace since November, good news for the U.S. economy.
economy, services, ism, firms
118
2016-02-06
Wednesday, 06 July 2016 11:02 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved