Non-Manufacturing Sector Shrinks in June

Tempe, AZ, July 3, 2008--Economic activity in the non-manufacturing sector contracted in June, according to the  Non-Manufacturing ISM Report On Business.

The index decreased 3.5 percentage points in June to 48.2 percent, indicating contraction after two consecutive months of growth within the non-manufacturing sector.

The Non-Manufacturing Business Activity Index decreased 3.7 percentage points to 49.9 percent. The New Orders Index decreased 5 percentage points to 48.6 percent, and the Employment Index decreased 4.9 percentage points to 43.8 percent.

The Prices Index increased 7.5 percentage points to 84.5 percent in June, indicating a faster rate in price increases than in May.