US Non-Manufacturing PMI fell to 56.9

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Monday, Oct 05 2015

US Non-Manufacturing PMI registered 56.9 percent in September, 2.1 percentage points lower than the August reading of 59 percent. Smaller decrease to 58.0 was forecasted. This represents continued growth in the non-manufacturing sector at a slower rate. The Non-Manufacturing Business Activity Index decreased to 60.2 percent, which is 3.7 percentage points lower than the August reading of 63.9 percent, reflecting growth for the 74th consecutive month at a slower rate. The New Orders Index registered 56.7 percent, 6.7 percentage points lower than the reading of 63.4 percent in August. The Employment Index increased 2.3 percentage points to 58.3 percent from the August reading of 56 percent and indicates growth for the 19th consecutive month.

The Prices Index decreased 2.4 percentage points from the August reading of 50.8 percent to 48.4 percent, indicating prices decreased in September for the first time since February of this year. According to the NMI, 13 non-manufacturing industries reported growth in September. There has been a cooling off in the rate of growth during the month of September. Also, the trend of lower costs and little pricing power continues as reflected in the contraction of the pricing index. Overall, respondents continue to remain positive about current business conditions.

Euro is currently being traded around 1.1220 level, Sterling is around 1.5170 area, while Aussie is at 0.7070 level.

More in this category: « UK Services PMI at lowest level since April 2013 Australian Trade Balance deficit widen in August »

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