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US nonmanufacturing economic index accelerates in June

July 06, 2015

Economic activity in the US nonmanufacturing sector expanded at a faster pace in June, according to the Institute for Supply Management’s non-manufacturing index released today.

ISM’s non-manufacturing index rose in June to a reading of 56.0 from May’s reading of 55.7. Readings above 50 indicate growth.

The reading fell short of the median forecast of the 74 economists surveyed by Bloomberg, which called for a reading of 56.4.

The employment portion of the index fell to a reading of 52.7 in June from May’s reading of 55.3.