The ISM data also showed a continuing increase in inflationary pressures for the non-manufacturing sector.
The report noted:
Prices paid by non-manufacturing organizations for purchased materials and services increased in June for the 61st consecutive month. ISM's Non-Manufacturing Prices Index for June registered 84.5 percent, 7.5 percentage points higher than May's index of 77 percent. June's reading is the highest reading for the Prices Index since the Non-Manufacturing report began. In June, the percentage of respondents reporting higher prices is 72 percent, the percentage indicating no change in prices paid is 26 percent, and 2 percent of the respondents reported lower prices.
In June, 17 industries reported an increase in prices paid in the following order: Mining; Construction; Real Estate, Rental & Leasing; Arts, Entertainment & Recreation; Finance & Insurance; Educational Services; Management of Companies & Support Services; Accommodation & Food Services; Professional, Scientific & Technical Services; Other Services*; Wholesale Trade; Public Administration; Utilities; Retail Trade; Transportation & Warehousing; Information; and Health Care & Social Assistance. The one industry reporting no change is Agriculture, Forestry, Fishing & Hunting. No industry reported a decrease in prices paid.
The ISM's prices-paid index has risen for 61 consecutive months. Recent readings included:
March: 70.8
April: 72.1
May: 77.0
June: 84.5