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Wednesday, August 12, 2020 8:35:46 AM EDT

Ism Services Updated 05-Aug-20 10:23AM ET

The ISM Non-Manufacturing Index increased to 58.1% in July ( consensus 5.2%) from 57.1% in June.

This was the third straight monthly improvement and the highest reading for the index since February 2019.

The New Orders Index increased to 67.7% from 61.6%.

The Employment Index slipped to 42.1% from 43.1%.

The Prices Index fell to 57.6% from 62.4%.

The Backlog of Orders Index rose to 55.9% from 51.9%.

The New Export Orders Index dropped to 49.3% from 58.9%.

The key takeaway from the report is the recognition that the Employment Index fell even as business activity improved some, which suggests a reticence on the part of employers to bring on new employees given the heightened state of uncertainty about the demand outlook.
Non-Manufacturing ISM index58.157.145.441.852.5
Business Activity67.
New Orders67.761.641.932.952.9
Deliveries (nsa)55.257.567.078.362.1
Inventories (nsa)52.060.748.046.941.5
Exports (nsa)49.358.941.536.345.9
Imports (nsa)46.352.943.749.340.2
Prices Paid57.662.455.655.150.0