Service Sector Flash Shows Continued Slow Growth

Service sector activity remains slow, little changed at an index of 51.3 for Markit's June flash. New orders are picking up but remain soft while job creation is slowing for a third straight month. Confidence in the year-ahead outlook continues to moderate. Price data are subdued both for inputs and for selling prices. The bulk of the U.S. economy is chugging along at marginal rates of growth heading into Brexit fallout and ongoing market volatility.