Growth in the US services sector eased in June, although new orders grew and job prospects improved moderately, a survey showed today.
The Institute for Supply Management's non-manufacturing index fell to 59.9 in June from 65.2 in May. Wall Street analysts had been looking for a dip to 63.0.
A number above 50 indicates growth in services, which include everything from restaurants and hotels to banks and airlines, accounting for about 80 per cent of the US economy.
ISM's employment index rose to 57.4 in June from 56.3 in May. New orders edged up to 62.4 from 61.3.
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Inflationary pressures continued to build, with the prices paid index inching up to 74.6 from 74.4.