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US Non-Manufacturing PMI slightly lower in March

Monday, Apr 06 2015
US Non-Manufacturing PMI registered 56.5 percent in March, 0.4 percentage point lower than the February reading of 56.9 percent, but in line with market forecasts. This represents continued growth in the non-manufacturing sector. The Non-Manufacturing Business Activity Index decreased to 57.5 percent, which is 1.9 percentage points lower than the February reading of 59.4 percent, reflecting growth for the 68th consecutive month at a slower rate. The New Orders Index registered 57.8 percent, 1.1 percentage points higher than the reading of 56.7 percent registered in February. 
 
The Employment Index increased 0.2 percentage point to 56.6 percent from the February reading of 56.4 percent and indicates growth for the 13th consecutive month. The Prices Index increased 2.7 percentage points from the February reading of 49.7 percent to 52.4 percent, indicating prices increased in March after three consecutive months of decreasing. According to the NMI, 14 non-manufacturing industries reported growth in March. The majority of respondents’ comments reflect stability and are mostly positive about business conditions and the overall economy.
 
Data did not have major impact on the markets with USD broadly lower against its major rivals. Euro is currently being traded few points around 1.1020 area, Sterling is at 1.4960 level, while Aussie is few points above 0.7630 level.
More in this category: « Aussie stable above 0.76 handle Australian Retail Sales up by 0.7% »

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