ISM Services Index Comes In At 56% For June, Above Forecast

U.S. services and other non-manufacturing companies reported that growth slightly picked up in June, the Institute for Supply Management said Monday. The ISM services index was 56% in June, compared with 55% expected by economists polled by MarketWatch. May's reading was 55.7%. Readings over 50% indicate overall expansion. ISM reported that its gauge of new orders for non-manufacturers rose 0.4 points to 58.3% in June, and the gauge of business activity/production increased two points to 61.5%. Meanwhile, the employment barometer fell 2.6 points to 52.7%.