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ISM Non-Manufacturing PMI inclined the most in 13-months

Monday, Dec 05 2016
ISM Non-Manufacturing PMI inclined the most in 13-months

America’s service industries expanded in November at the fastest clip since October of last year, putting the economy’s biggest sector on a robust growth path. The Institute for Supply Management’s non-manufacturing index jumped to 57.2, exceeding all forecasts in a Bloomberg survey, from 54.8 in October, the Tempe, Arizona-based group’s data showed Monday. Readings above 50 signal growth. The median forecast called for 55.5.

Measures of business activity and employment strengthened at companies that cover almost 90 percent of the economy, signaling growing optimism about demand. The group’s factory survey released last week also showed promise, with manufacturing expanding by the most in five months. “This last quarter is having the year finish up pretty strong,” Anthony Nieves, chairman of the ISM non-manufacturing survey, said on a conference call with reporters. “I don’t project that December is going to be much different.”

 

Euro is currently being traded above 1.07 handle, Sterling is above 1.2720 level, while Aussie is around 0.7480 area.

More in this category: « UK Services PMI increased to 55.2 RBA left interest rates unchanged »

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