The US ISM non-manufacturing PMI for July was 51.4, expected to be 51, and the previous value was 48.8, indicating that economic activity in the service sector expanded in July. The increase in the composite index in July was the result of an average increase of 5 points in the business activity, new orders and employment indexes. Respondents said that rising costs are affecting their business, but they are generally positive about business activities, believing that business activities are flat or gradually expanding.