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10:00am 09/03/04 U.S. AUG. ISM NONMANUFACTURING INDEX 58.2% VS. 64.8%
U.S. Aug. nonmanufacturing index 58.2% vs 64.8% in July
WASHINGTON (CBS.MW) -- Activity in the service sectors of the U.S. decreased in August, the Institute for Supply Management reported Wednesday.
The ISM's nonmanufacturing index fell to 58.2percent from 64.8 percent in July, indicating a slower pace of expansion.
The decline was larger than expected.
Economists expected the index to fall to 62.2 percent.
Readings over 50 percent in the diffusion index indicate expansion in those sectors.
New orders fell to 58.6 percent from 66.4 percent.
The employment index rose to 52.5 percent from 50.0 percent.
The prices paid index fell to 70.0 percent from 73.1 percent.
U.S. Aug. nonmanufacturing index 58.2% vs 64.8% in July
WASHINGTON (CBS.MW) -- Activity in the service sectors of the U.S. decreased in August, the Institute for Supply Management reported Wednesday.
The ISM's nonmanufacturing index fell to 58.2percent from 64.8 percent in July, indicating a slower pace of expansion.
The decline was larger than expected.
Economists expected the index to fall to 62.2 percent.
Readings over 50 percent in the diffusion index indicate expansion in those sectors.
New orders fell to 58.6 percent from 66.4 percent.
The employment index rose to 52.5 percent from 50.0 percent.
The prices paid index fell to 70.0 percent from 73.1 percent.
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