ISM Non-Manufacturing PMI (US)
The Non-Manufacturing Sector Remains in Decent Shape in US
Starts Wednesday, March 4, 2020 at 15:00
Updated Wednesday, March 4, 2020
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. In July, this indicator fell further to 53.7 points but in August we saw a strong jump to 56.4 points. For September, this indicator was expected to cool off again slightly to 55.1 points, but it fell to 52.6 points. Although, last month's report showed a surprising jump for October to 54.5 points, but cooled off to 53.9 points again in November. But improved to 55.0 points in December and further to 55.5 in January. 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.