FYI: Wednesday’s ISM Non-Manufacturing (Services) report for the month of May came in weaker than expected falling from 57.8 down to 55.7 compared to expectations of 57.0. This was the lowest monthly reading for the headline index since April 2014 and raises concerns that what had been a relative bright spot for the economy is starting to show cracks, even as the weather improves. Combining the ISM Services with the ISM Manufacturing report and accounting for each sector’s share of the overall economy, the combined ISM for the month of May fell to 55.3 from 57.0.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/services-sector-growth-less-than-expected/
