ISM Non-Manufacturing PMI (US)
ISM Non-Manufacturing Declined but Remains the Best Performing Secor
Starts Monday, August 5, 2019 at 14:00
Updated Monday, August 5, 2019
The US ISM non-manufacturing PMI indicator reached 59.1 points in June as July's report showed, but it took a sharp turn in July falling to 55.7 PMI points. Although, it increased to 58.6 points in August which was a positive turnaround. The reports for September, October and November came out positive, beating expectations and coming above 60 points. Although, in December we saw a considerable cool-off of this indicator as it fell nearly 3 full points to 57.6 points. In January we saw another decline to 56.7 points, missing expectations as well, although at these levels, this sector was still in a very decent shape. But, we saw a sudden reversal and a jump to 59.7 points in February. In March and April this indicator declined and it stands at 55.5 points now. It is expected to tick higher today to 55.6 points, although that's still a good level. In May, the ISM non-manufacturing increased further to 56.9 points which was a surprise since the US economy has been slowing in recent months, although we saw a small decline to 55.1 points in June, which still means a very decent level of expansion for this sector. Please follow us for live coverage of this event by experienced market analysts.
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About ISM Non-Manufacturing PMI (US)
Provided by the Institute for Supply Management (ISM), the ISM Non-Manufacturing PMI analyses the conditions of the U.S. services sector. It is released monthly and adjusted on a seasonal basis to reflect ongoing business conditions. On a scale of 0-100, a value above 50 is viewed as being positive, while below 50 is viewed as negative toward the USD.Services make up 80% of the U.S. economy, top three globally. Given the importance of services to U.S. GDP, the ISM Non-Manufacturing PMI reflects the relative expansion or contraction of the services sector as a whole.