U.S. July ISM Non-Manufacturing PMI fell short of expectations: 54.1 vs 54.5

U.S. July ISM Non-Manufacturing PMI came in at 54.1, missing the 54.5 forecast and previous reading, signaling a slowdown in service sector expansion and potentially boosting rate cut expectations.

The U.S. ISM non-manufacturing PMI for July came in at 54.1, lower than the expected 54.5 and down from the previous reading of 54.0. The weaker-than-expected figure indicates a slowdown in service sector expansion, which could boost expectations of a rate cut and increase the possibility of more accommodative monetary policy.