The ISM Services index tumbled to 48.8 in June from 53.8 in May, well short of the 52.7 consensus expectation. Only eight of 18 industries reported growth for the month – down from 13 in May. The business activity sub-index and new orders signaled shrinking activity, falling 11.6 and 6.8 percentage points, respectively, to 49.6 […]
In focus today Today, focus turns to French politics as lawmakers reach the final stage of negotiating a budget agreement. Sources indicate that Bayrou intends to reduce the public deficit to 5.4% of GDP from last year’s 6.2%. The budget draft will be debated in the National Assembly today, and Bayrou is likely to pass […]
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