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SMLL - ISM Services Index Eases Back In August But Still Suggests Expansion
Direxion Daily Small Cap Bull 2X Shares
By Robert Hughes
The Institute for Supply Management's services index posted a 1.2 percentage-point decrease in August, dropping to a reading of 56.9 from 58.1 in the prior month. The latest results follow a record surge in June and two consecutive months below the neutral 50 threshold including a record monthly decline in April (see top chart). The results indicate a third month of expansion for the services sector and the broader economy, though the pace likely eased from the snapback results of June and July.
Among the key components of the services index, the