U.S. July ISM Services Index at 51.4, Reversing Four-Year Biggest Contraction, Employment Index Returns to Expansion

Employment, new orders, and business activity sub-indices all returned to expansion, boosting the July ISM services PMI data. Analysts say the U.S. services PMI's return to expansion in July after June's four-year biggest contraction could help ease widespread concerns about the country's economic slowdown.