According to data published this Monday by the Institute of Supply Management (ISM), there was a slight decrease in its non-manufacturing sector purchasing managers index from 54.5 in May to 54.0 in June. This signals that activities in this sector decreased over the past month as the economy begins to stabilize.

According to the report, the boost in the services sector occurred in the previous months due to the rush to place orders in the midst of the geopolitical conflict in the Middle East; However, given the preliminary agreement between the United States and Iran, demand has faded in recent weeks. However, it is not affecting hiring and, instead, a rebound was observed, which may indicate early stability in the labor market.

Although ISM recorded an improvement in the services sector, which represents more than two-thirds of the country's economic activity, it also noted in the analysis that delivery times continue to be delayed.

The supplier deliveries indicator from the Institute of Supply Management survey decreased from 55.2 in May to 54.4 in June; this indicates slower deliveries. However, the analysis highlights that, although longer delivery times in some cases are usually associated with economic recovery and strengthening, in this case it may not be reflecting high demand due to difficulties in supply chains.

On the other hand, the survey also revealed that the employment index in the services sector increased from 47.9 in May to 51.2 in June; The economists interviewed mentioned that the labor market could maintain a trend of low hiring and few layoffs in the coming months.