June 5 (Reuters) – Growth in U.S. service sector activity slowed in May as new orders fell, according to a monthly survey from the Institute for Supply Management (ISM) released on Monday.
The ISM services index fell to 50.3 from 51.9 the previous month, while economists polled by Reuters on average expected a reading of 52.2.
The component of new orders received by service companies increased from 56.1 to 52.9, while the price paid subindex fell from 59.6 to 56.2.
Cooling demand has also led to a slowdown in prices across the sector, which should be seen as good news for Federal Reserve officials as they try to bring inflation back to its 2 percent target.
The employment measure went from 50.8 to 49.2. (Written by Diana Mandiá, edited by Blandine Hénault)
Which stocks to buy?
Making the best investments requires detailed knowledge of the markets, their mechanisms, the economy and involves delving into the heart of the strategy of each listed company. The Investir editorial team does it for you and provides its subscribers with advice on more than 800 stocks. Benefit from their buy, speculative buy, spread or sell recommendations by subscribing to Investir.
I discover the offers