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US Services PMI at 56.7%; July 2022 Services ISM Report On Business
Economic activity in the services sector grew in July for the 26th month in a row — with the Services PMI® registering 56.7 percent — say the nation's purchasing and supply executives in the latest Services ISM® Report On Business®. The report was issued today by Anthony Nieves, CPSM, C.P.M., A.P.P., CFPM, Chair of the Institute for Supply Management® (ISM®) Services Business Survey Committee: "In July, the Services PMI® registered 56.7 percent, 1.4 percentage points higher than June's reading of 55.3 percent. The Business Activity Index registered 59.9 percent, an increase of 3.8 percentage points ... (full story)
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ISM respondent: "Can feel the economy weakening. Clients are making appropriate moves in anticipation of a recession."
— zerohedge (@zerohedge) August 3, 2022
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ISM respondent: “Interest rates have significantly impacted the homebuilding market. Cancellation rates have increased, as homebuyers can no longer afford the monthly payment. Traffic to our communities is down. Inflation has sidelined many would-be buyers.”
— zerohedge (@zerohedge) August 3, 2022
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