US Non-Manufacturing PMI increased less than expected

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Monday, Jul 06 2015

US Non-Manufacturing PMI registered 56 percent in June, 0.3 percentage point higher than the May reading of 55.7 percent, but below expected increase to 56.5 percent. This represents continued growth in the non-manufacturing sector at a slightly faster rate. The Non-Manufacturing Business Activity Index increased to 61.5 percent, which is 2 percentage points higher than the May reading of 59.5 percent, reflecting growth for the 71st consecutive month at a faster rate.

The Employment Index decreased 2.6 percentage points to 52.7 percent from the May reading of 55.3 percent and indicates growth for the 16th consecutive month. The Prices Index decreased 2.9 percentage points from the May reading of 55.9 percent to 53 percent, indicating prices increased in June for the fourth consecutive month. According to the report, 15 non-manufacturing industries reported growth in June. The majority of respondents’ comments are positive about business conditions and the economy.

Data did not have any major impact on the markets. Euro is currently being traded slightly above 1.1040 level, Sterling is around 1.5560 area, whole Aussie is few points above 0.75 handle.

More in this category: « Varofukis resigned, Greece prepared for talks with Troika RBA leaves interest rates unchanged »

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