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ISM Service Index Signals Weakening Demand

06/05/2023

A widely-expected economic slowdown paired with tighter credit conditions have chipped away at the outlook for U.S. service managers. The ISM composite service index unexpectedly fell from 51.9 to 50.3 in May, the second lowest level in three years and just a fraction above 50, the dividing line between expansion and contraction.

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