The business activity index in the US services sector declined in July lower than it was expected

In July, the US business activity index fell to the lowest level since August 2017, to 55.7 points from 59.1 points in June, according to the Institute of Supply Management. Economists had expected the index to fall to 58.6 points. The level of new orders in the service sector declined in July to 57 points from 63.2 points a month earlier. The indicator, indicating export orders, dropped to 58 points from 60.5 points. The indicator that determines entrepreneurial activity fell to 56.5 points from 63.9 points. At the same time, the employment indicator rose to 56.1 points from 53.6 points. In July, there was growth in 16 industries and a decrease in two.

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