Non-Manufacturing PMI rose in April

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Tuesday, May 05 2015

The Non-Manufacturing PMI registered 57.8 percent in April, 1.3 percentage points higher than the March reading of 56.5 percent and above expectations on decline to 56.2. This represents continued growth in the non-manufacturing sector. The Non-Manufacturing Business Activity Index increased substantially to 61.6 percent, which is 4.1 percentage points higher than the March reading of 57.5 percent, reflecting growth for the 69th consecutive month at a faster rate.

The New Orders Index registered 59.2 percent, 1.4 percentage points higher than the reading of 57.8 percent registered in March. According to the NMI, 14 non-manufacturing industries reported growth in April. The majority of respondents indicate that there has been an uptick in business activity due to the improved economic climate and prevailing stability in business conditions.

After the data USD fell against its major rivals. Euro is currently being traded few points above 1.1170 area, Sterling is around 1.52 level, while Aussie is slightly above 0.79 handle.

More in this category: « US Trade Balance deficit rose to $51.4 billion Australian Retail Sales rose for the tenth consecutive month »

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