With President Donald Trump's global trade war creating uncertainty, the Institute for Supply Management released a report on Wednesday showing U.S. service sector growth slowed to a nearly two-year low in the month of June.
The ISM said its non-manufacturing index dropped to 55.1 in June from 56.9 in May, hitting its lowest level since a matching reading in July of 2017.
While a reading above 50 still indicates growth in service sector activity, economists had expected the index to show a more modest decrease to 55.9.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.