FX.co ★ US Services Growth Remains Solid in June

The ISM Services PMI in the US edged down to 54.0 in June 2026 from 54.5 in May, aligning with market expectations. While the index points to ongoing solid growth in the services sector, the expansion has moderated, reflecting slower gains in both business activity (55.4 vs. 57.7 in May) and new orders (55.1 vs. 57.3). In contrast, the employment index registered its strongest monthly increase since 2024, rising to 51.2 from 47.9 and signaling the first expansion in payrolls since February. Price pressures also eased, with the prices index slipping to a four-month low of 67.7 from 71.3. Despite lingering concerns about inflation—particularly in connection with the conflict in the Middle East—survey respondents reported that overall business conditions remain firm.