WASHINGTON, Aug. 3 (Xinhua) -- The U.S. non-manufacturing activity expanded at a slower pace in July, while businesses surveyed remained optimistic about their business conditions.
The Non-Manufacturing Index (NMI), which measures activity in the U.S. service sector, registered 53.9 in July, down 3.5 points from June's reading of 57.4, the Institute for Supply Management (ISM) said in its monthly survey on Thursday.
The NMI survey covers all sectors outside of manufacturing. A reading above 50 percent indicates expansion of the service sector.
The business activity index went down 4.9 points to 55.9; the new orders component of the index, a signal of future business, dropped 5.4 points to 55.1; and the employment index decreased 2.2 points to 53.6.
Of the 18 industries tracked by the NMI, 15 industries reported growth. According to the report, despite the cool-off in growth in July, a majority of companies surveyed were positive about business conditions and the state of the economy.
A separate ISM report released on Monday also showed that U.S. manufacturing activity expanded at a slower pace in July.
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