In the US session ADP Employment Change and Non-Manufacturing PMI figures were published. Private sector employment increased by 135,000 jobs from August to September according to the September ADP National Employment Report. “In September, small businesses experienced a dip in hiring,” said Ahu Yildirmaz, vice president and cohead of the ADP Research Institute. “This is in part due to Hurricane’s Harvey and Irma which significantly impacted smaller retailers.
Economic activity in the non-manufacturing sector grew in September for the 93rd consecutive month, say the nation’s purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business. The NMI registered 59.8 percent. This is the highest reading since August 2005 when the index registered 61.3 percent. The NonManufacturing Business Activity Index increased to 61.3 percent, 3.8 percentage points higher than the August reading of 57.5 percent. The New Orders Index registered 63 percent, 5.9 percentage points higher than the reading of 57.1 percent in August.
There will be no major data releases from the UK tomorrow. In the US session Unemployment Claims and Trade Balance figures will be published. Analysts anticipate decrease to 266,000 in Unemployment Claims and narrowing of Trade Balance deficit to $42.6 billion.
Figures to watch:
Unemployment Claims (Thursday 14:30)
Trade Balance (Thursday 14:30)
Last modified on Wednesday, 04 October 2017
