US ISM services fell to 52.7 in Jul, corresponds to 1% annualized GDP growth

<p>US ISM Services PMI dropped from 53.9 to 52.7 in July, slightly below expectation of 53.0. Looking at some details, business activity/production dropped from 59.2 to 57.1. New orders dropped from 55.5 to 55.0. Employment dropped from 53.1 to 55.9. Prices rose from 54.1 to 56.8. ISM said: “The past relationship between the Services PMI® […]</p>
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