An ISM barometer of business conditions at companies such as restaurants, hotels and retailers rose to a three-month high of 56.7% in July, suggesting...
The numbers: An ISM barometer of business conditions at companies such as restaurants and hotels rose to a three-month high of 56.7% in July, suggesting the economy continues to expand in the face of growing headwinds.
Economists... The numbers: An ISM barometer of business conditions at companies such as restaurants and hotels rose to a three-month high of 56.7% in July, suggesting the economy continues to expand in the face of growing headwinds. Economists polled by The Wall Street Journal had expected the index to drop to 54% from 55.3% in June.A similar ISM survey of American manufacturers also showed business activity slowing to a more than two-year low in July, however.
The Federal Reserve is raising interest rates sharply to squelch the worst inflation in almost 41 years, but higher rates usually slow the economy and sometimes can even trigger a recession.
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