August 4, 2010
Service Sector Growth Continues
By Matthew L. Brown
The service sector grew in July for the seventh straight month, with businesses telling the Institute for Supply Management that business conditions and customer attitudes have improved over last year.
ISM's Non-Manufacturing Business Activity Index hit 57.4 during the month, a slight decline from June.
ISM's new orders index increased by 2.3 percentage points to 56.7. The employment index increased by 1.2 percentage points to 50.9.
Service sector pricing is on the increase, but at a slower pace than in June.
Industries that reported growth in July included arts, entertainment and recreation; management of companies and support services; agriculture, forestry, fishing and hunting; retail trade and several others.
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