Core Insights - The US services sector showed slow expansion in June, with minimal growth despite a rebound in business activity and orders, while the employment index experienced its largest contraction in three months [1][6]. Economic Indicators - The ISM non-manufacturing index for June was reported at 50.8, slightly above the expected 50.6, and an increase from May's 49.9, indicating a return to expansion after a contraction [3]. - The business activity index returned to the expansion zone in June after stagnation in the previous month, while order quantities also saw moderate growth [4]. Employment and Pricing - The ISM employment index fell by 3.5 points to 47.2, marking the third contraction in four months, as service providers adjusted their workforce due to a rapid decrease in backlog orders [4]. - The prices index for materials and services decreased but remained near the highest levels since the end of 2022, indicating persistent price pressures in the services sector [4][7]. Economic Growth and Consumer Sentiment - The data reflects a slowdown in economic growth for the year, with consumers and businesses still grappling with the impacts of trade policies [6]. - The second quarter saw a steady expansion of the US economy at an annualized growth rate close to 1.5%, with service demand prompting the fastest increase in employment since January [6]. Future Outlook - There are concerns about the sustainability of business activity expansion in the coming months, with high price pressures persisting despite some easing in demand and competition [7]. - The overall inflation rate for service charges remains the second highest in over two years, potentially pushing consumer price inflation upward in the short term [7].
美国6月ISM服务业PMI指数50.8 就业指数收缩 商业活动和订单回升
Hua Er Jie Jian Wen·2025-07-03 15:27