ISM Services Index Falls to 58.5 in May

he Institute for Supply Management said Friday its services index dropped to 58.5 in May, from 61.7 in April.

The services index measures the economy’s largest segment, including retail, financial, construction and other non-manufacturing industries, like trucking. Services make up about two-thirds of the economy.

Bloomberg reported economists had forecast the indicator would fall to 60. As with all ISM indices, figures above 50 indicate expansion.