Home Squawk Growth in the U.S. Services Sector Reached the Highest Level of One...

Growth in the U.S. Services Sector Reached the Highest Level of One and a Half Years

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The ISM Non-Manufacturing PMI for the US jumped to 58.1 in July 2020 from 57.1 in the previous month and above market expectations of 55.0.

The latest reading shows the fastest growing month in the services sector since February 2019 as the economy began to recover from Covid-19.

Components:

  • Business activity grew the most since January 2004.
  • Rate of job shedding accelerated