Economic Report: Service side of economy roars back in June, ISM shows, but momentum might be hard to sustain

This post was originally published on this site

Restaurants, dentists and other service-style companies that dominate the U.S. economy saw a surge in growth in June as businesses were allowed to reopen, pointing to a gradual recovery after extended coronavirus lockdowns. The Institute for Supply Management’s index of nonmanufacturing companies jumped to 57.1% in June from 45.4% in May.

Add Comment