According to the Institute for Supply Management’s latest report on non-manufacturing, economic activity in the sector grew in July for the 78th consecutive month.

The report was issued by Anthony Nieves, chair of the ISM Non-Manufacturing Business Survey Committee.

The NMI registered 55.5% in July, a 1% percent drop from the June reading of 56.5%. According to Nieves, this represents continued growth in the non-manufacturing sector at a slower rate.

The non-manufacturing business activity index decreased to 59.3%, a slight dip (0.2%) from the June reading of 59.5%. The employment index and prices index each suffered larger drops during the month. The employment index fell to 51.4% from 52.7% and the prices index dropped by 3.6% from 55.5% to 51.9%.

However, the new orders index came in at 60.3%, 0.4% higher than the reading of 59.9% in June. In addition, it is worth noting that because all index registered marks above 50%, they all indicate expansion.

Nieves also noted that 15 non-manufacturing industries reported growth in July.

“The majority of the respondents’ comments reflect stability and continued growth for their respective companies and a positive outlook on the economy,” Nieves said.