By Paul Wiseman
AP Economics Writer
WASHINGTON (AP) — U.S. services companies grew at a slower pace in June as the pace of hiring, orders and production decelerated.
The Institute for Supply Management, an association of purchasing managers, says its non-manufacturing index fell to 55.1 from 56.9 in May. Anything above 50 signals growth, though, and the services sector is enjoying a 113-month winning streak.
Sixteen services industries reported growth last month, led by real estate.
Services dominate the American economy, accounting for 84% of private-sector jobs.
Some respondents to the ISM survey expressed concern about heightened trade tensions — though the overall results remained healthy. President Donald Trump has imposed tariffs on $250 billion in Chinese imports as the two countries seek to settle their differences over Beijing’s aggressive trade policies.
- Posted July 05, 2019
- Tweet This | Share on Facebook
Services companies grew more slowly in June
headlines Oakland County
- Whitmer signs gun violence prevention legislation
- Department of Attorney General conducts statewide warrant sweep, arrests 9
- Adoptive families across Michigan recognized during Adoption Day and Month
- Reproductive Health Act signed into law
- Case study: Documentary highlights history of courts in the Eastern District
headlines National
- ACLU and BigLaw firm use ‘Orange is the New Black’ in hashtag effort to promote NY jail reform
- Judge accused of using ‘game or jail’ tactic, asserting abuse victims get ‘Super Bowl’ neurochemicals
- Prosecutor gets suspension for invading jury’s ‘inner sanctum’
- Lateral hiring bounced back in 2024, especially for associates in BigLaw, new NALP report says
- Refugee ban can’t be enforced against those who received conditional approval, 9th Circuit says
- ABA, more than 50 bar associations condemn ‘government actions that seek to twist the scales of justice’
