US: ISM Services PMI declines to 60.1 in June vs. 63.5 expected

The economic activity in the US service sector continued to expand in June, albeit at a softer pace than it did in May, with the Institute for Supply Management (ISM) Services PMI declining to 60.1 from 64. This reading missed the market expectation of 63.5.

Further details of the publication revealed that the Prices Paid Index edged lower to 79.5 from 80.6, the Employment Index declined to 49.3 from 55.3. Finally, the New Orders Index fell to 62.1 from 63.9.

Market reaction

This report doesn't seem to be having a significant impact on the greenback's performance against its major rivals. As of writing, the US Dollar Index was up 0.2% on the day at 92.41.