English
The US services sector is recovering strongly in June
US service sector activity largely recovered in June, returning almost to pre-Covid-19 pandemic levels, but the return of coronavirus cases to the increase that has prompted some restaurants and bars to close again threatens recovery.
The Institute for Supply Management said its index of activities other than manufacturing jumped to a reading at 57.1 last month, the highest level since February, from 45.4 in May, continuing to recover from a reading at 41.8 in April, which was the lowest since March 2009.
A reading above the 50 level indicates growth in the services sector, which accounts for more than two-thirds of US economic activity.
Economists polled by Reuters had expected the index to rise to a reading of 48.9 in June.
The services sector’s new orders index in the survey rose to a reading at 61.6 in June from 41.9 in the previous month.
There was an increase in export orders, and the level of order accumulation rose.
The services sector employment index rose to a reading of 43.1 last month from 31.8 in May.
