The July ISM services index fell 1 pt to 55.5 which was a touch below the estimate of 55.9 but is still above the average year to date of 54.6. This compares with the 2015 average of 57.2. New orders rose .4 pts to the best since October at 60.3 although there was a drop in the number of companies seeing an increase to 13 from 15 surveyed in June. Backlogs rose 3.5 …
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