In the US, the Procurement Management Institute (ISM) services sector Purchasing Managers Index (PMI) rose to 53.9 in June, reaching a 4-month high.
ISM has announced its services sector PMI data for June.
Accordingly, the ISM services sector PMI index increased by 3.6 points to 53.9 in June compared to the previous month.
The market expectation for the data pointing to the acceleration in the growth of the service sector was 51. The index was 50.3 in May.
The production index increased by 7.7 points to 59.2 and the index for new orders increased by 2.6 points to 55.5 in June. The employment index increased by 3.9 points to 53.1 in this period.
Surveys for the ISM service index revealed growth in 15 service industry industries.
Slight upward revision in services sector PMI data
On the other hand, S&P Global also announced the services sector PMI final data for June.
Accordingly, the June service sector PMI was revised from 54.1 to 54.4. The services sector PMI was 54.9 in May.
The composite PMI covering the manufacturing and services sectors was revised to 53.2 from 53 in June. The composite PMI was 54.3 in May.
Values above 50 in ISM and PMI data indicate expansion, and values below 50 indicate contraction.