Services sector growth was kind of muggy again in June.
The latest reading for Markit Economics’ flash purchasing manager’s index (PMI) held steady at 51.3 for June.
Economists had forecast that the PMI ticked up slightly at 51.9, according to the Bloomberg consensus.
Markit’s survey of service providers – who contribute to two-thirds of economic activity – showed that their business optimism fell to a survey-record low.
The report also highlighted that there was only a “marginal” increase in service sector activity, and that job growth eased for the third month running.
“June data highlighted another subdued month for the U.S. service sector, with activity growth remaining marginal and job creation easing to its least marked for a year-and-a-half,” the report noted.
“Looking ahead, service sector companies indicated subdued confidence regarding the one-year ahead outlook for business activity.”