The US services sector exceeded expectations in June

The American Institute for Supply Management (ISM) said the US services sector exceeded expectations in June, as the services PMI in the United States rose to 53.9 points, compared to 50.3 points in May. Analysts had expected the US services sector to rise to 51.0 points in June. It rose The new orders index rose to 55.5 points in June, compared to 52.9 points in May, while the measure of prices paid by service companies for inputs fell to 54.1 points in June, compared to 56.2 points in May, the lowest level since March 2020. The annual PCE price index rose, excluding Food and energy rose 4.6% in May after rising 4.7% in April as the Fed tracks monetary policy PCE price signals.