US Non-Manufacturing PMI dropped to 56.2

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Tuesday, Jan 06 2015

US Non-Manufacturing PMI registered 56.2 percent in December, 3.1 percentage points lower than the November reading of 59.3 percent. Analysts were predicting smaller decrease to 58.2. This represents continued growth in the non-manufacturing sector. The Non-Manufacturing Business Activity Index decreased to 57.2 percent, which is 7.2 percentage points lower than the November reading of 64.4 percent, reflecting growth for the 65th consecutive month at a slower rate.

The New Orders Index registered 58.9 percent, 2.5 percentage points lower than the reading of 61.4 percent registered in November. The Employment Index decreased 0.7 percentage point to 56 percent from the November reading of 56.7 percent and indicates growth for the tenth consecutive month. The Prices Index decreased 4.9 percentage points from the November reading of 54.4 percent to 49.5 percent, indicating prices contracted in December when compared to November. According to the NMI, 12 non-manufacturing industries reported growth in December. Comments from respondents are mostly positive about business conditions and the overall economy for year-end.

Data did not have major impact on the markets. Euro is few points above 1.19 handle, Sterling is slightly below 1.5180 area, while Aussie is around 0.8130 level.

More in this category: « UK Services PMI at a 19-month low German Retail Sales up by 1.0% »

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