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“The NMI (Non-manufacturing ISM) registered 59.1 percent, which is 0.5 percentage point higher than the May reading of 58.6 percent. This represents continued growth in the non-manufacturing sector at a slightly faster rate,” the Institue for Supply Management reported on Thursday.

Key takeaways

  • The New Orders Index registered 63.2 percent, 2.7 percentage points higher than the reading of 60.5 percent in May.
  • The Employment Index decreased 0.5 percentage point in June to 53.6 percent from the May reading of 54.1 percent.
  • The Prices Index decreased by 3.6 percentage points from the May reading of 64.3 percent to 60.7 percent, indicating that prices increased in June for the 28th consecutive month.
  • Respondents continue to be optimistic about business conditions and the overall economy.
  • There is a continuing concern relating to tariffs, capacity constraints and delivery.