Non-Manufacturing PMI fell more than expected

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Thursday, Dec 03 2015

The Non-Manufacturing PMI registered 55.9 percent in November, 3.2 percentage points lower than the October reading of 59.1 percent. Analysts were anticipating decline to 58.1. This represents continued growth in the non-manufacturing sector at a slower rate. The Non-Manufacturing Business Activity Index decreased to 58.2 percent, which is 4.8 percentage points lower than the October reading of 63 percent, reflecting growth for the 76th consecutive month at a slower rate. The New Orders Index registered 57.5 percent, 4.5 percentage points lower than the reading of 62 percent in October.

The Employment Index decreased 4.2 percentage points to 55 percent from the October reading of 59.2 percent and indicates growth for the 21st consecutive month. The Prices Index increased 1.2 percentage points from the October reading of 49.1 percent to 50.3 percent, indicating prices increased in November after two consecutive months of decreasing. According to the NMI, 12 non-manufacturing industries reported growth in November. After a strong month of growth in October, the non-manufacturing sector’s rate of growth slowed in November. Most respondents are still positive about business conditions.

Euro is currently being traded few points above 1.0830 level, Sterling is around 1.5050 handle, while Aussie is above 0.7320 area.

More in this category: « ECB extends its QE programme until March 2017 or beyond Australian Retail Sales increased by 0.5% in October »

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