US service sector declined in May

The American Institute for Supply Management (ISM) said that the services PMI in the United States fell to 50.3 points in May, compared to 51.9 points in April. Analysts had expected that the services sector, which accounts for more than two-thirds of the US economy, would rise to 52.2 points in May.

The measure of new orders fell to 52.9 points in May, compared to 56.1 points in April, and the measure of prices paid by service companies for inputs fell to 56.2 points in May, compared to 59.6 points in April, which is the lowest level since May 2020. The main dollar index, which measures the performance of the US currency against 6 major currencies, declined by 0.13% to 104.00, the euro rose against the US dollar by 0.07% to $1.0712, and the dollar fell against the Japanese yen by 0.27% to 139.60 yen.