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US services sector contracts in May for 2nd time in past 3 months

ISTANBUL: Economic activity in the US services sector fell in June for the second time in the last three months, according to a survey report Wednesday by the Institute for Supply Management (ISM).

The ISM’s non-manufacturing purchasing managers’ ind…

US mortgage applications fall as rates rebound from 3-month low

ISTANBUL: US mortgage applications fell last week, as mortgage rates rebounded from their lowest in more than three months, according to a Mortgage Bankers Association (MBA) report released Wednesday.

The market composite index, a measure of mortgage…