The US service sector recorded slowing in July, with the level of activity immersed, AFP reported on Tuesday and quoted data from the Institute for Delivery Management (ISM).
The report states that President Donald Trump’s tariffs and tensions are the key factors that have influenced the growth of global industries this year.
Key with you from a survey
The Institute for Supply Management (ISM) Services in July fell to 50.1 %, which is a slight decline from 50.8 % in June. Although this figure remains above 50 %, indicating growth, it missed the expected forecast of 51.5 %, the report says.
“The continuing contraction of the employment index and the faster expansion of the price index is a worrying development,” said ISM chairman Steve Miller AFP.
He also added that both the new exports and imports have moved from expansion to the territory of contraction and provided “signals that the voltage of tariffs affects global trade”.
“The most common topic among the survey panelists remained the impact of the tariff, the significant increase in the commodities listed as prizes,” Miller said.
The business activity index has been in expansion, but has cooled since June, as well as the index of new orders. However, the employment index remained the second direct month in contraction, the press agency reported.
“The expectations of the final impact on the tariff result in delayed planning for further purchases of the fiscal year,” said the opponent in the accommodation and food services sector.
Another respondent in the agricultural industry added that “higher tariffs increase the cost of imported feed additives and monitored minerals for livestock and poultry”.
Economic outlook
Carl Weinberg, the chief economist in the high -frequency economy, said “the slowing trend in service production is a reason for concern”.
Weinberg said the report supported the view of the gradually slowing economy, although noted that it has not yet guaranteed monetary release.
(Tagstotranslate) US service sector
