Close up African American waiter hands with notebook, taking customer order in cafe or restaurant, coffeehouse worker wearing black apron serving client, writing down, service concept
U.S. service providers expanded in June by less than forecast as a measure of employment contracted, reflecting employers’ struggle to attract workers in service industries. The Institute for Supply Management’s services index fell to 60.1 in June month from a record 64 in May. Readings above 50 indicate expansion. A Bloomberg survey of economists projected the number would be 63.5.
Although cooling from a month earlier, the report shows still-solid demand for services like restaurant dining, hotel stays and travel. Sixteen of 18 service industries reported growth in June, led by arts, entertainment and recreation.
Source: Crain’s New York Business