Non-Manufacturing Economic Activity Grows in July

Tempe, AZ, Aug. 4, 2010–Economic activity in the non-manufacturing sector grew in July for the seventh consecutive month, according to the Institute for Supply Management.

The institute’s index registered 54.3% in July, up from 53.8% in June, indicating continued growth in the non-manufacturing sector.

The Non-Manufacturing Business Activity Index decreased 0.7 percentage point to 57.4%, reflecting growth for the eighth consecutive month. The New Orders Index increased 2.3 percentage points to 56.7%, and the Employment Index increased 1.2 percentage points to 50.9%, reflecting growth after one month of contraction.