India, Aug. 5 -- A report released by the Institute for Supply Management on Wednesday showed a slight uptick by its reading on U.S. service sector activity in the month of July.
The ISM said its services PMI crept up to 54.1 in July from 54.0 in June, with a reading above 50 indicating growth in the sector. Economists had expected the index to rise to 54.5.
"Tariff impacts and the Middle East conflict continued to be mentioned by respondents, but much less frequently than in prior reports," said Steve Miller, Chair of the ISM Services Business Survey Committee "The World Cup was again cited in the comments regarding increased business activity and new orders."
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