US ISM Non-Manufacturing Slows but Orders Increase
US ISM non-manufacturing missed expectations but it is not that bad a report since orders increased.
The US ISM non-manufacturing report was release a short while ago. This indicator has been around the 60 PMI level which means that this sector is expanding pretty fast and last month we saw a slight increase. Today though, this indicator was expected to show a slight cool off but the cool off was a bit more than the analysts were expecting.
The headline number for the December ISM non-manufacturing PMI was expected to slip to 59.6 points from 60.7 points in November. But, it came at 57.6 points. This number still indicates a decent pace of expansion nonetheless, but let’s have a look at the details.
| Actual | Expected | Previous | |
| ISM Non-Manufacturing | 57.6 | 59.6 | 60.7 |
| Employment | 56.3 | 58.4 | |
| New Orders | 62.7 | 62.5 | |
| Prices Paid | 57.5 | 64.3 | |
| Inventories | 51.5 | 57.5 | |
| New Export Orders | 59.5 | 57.5 |
As you see, all the sub-components of this report are lower than last month’s report. But, new orders, both domestic and the export orders increased, which will increase activity in the coming months. The ISM comments that despite the tightening monetary policy by the FED which has been hiking interest rates 4 time last year and the political clashes, this sector is solid and the economy looks in good shape. The USD is now a little higher, so no negative feeling from the market regarding this report.
- Check out our free forex signals
- Follow the top economic events on FX Leaders economic calendar
- Trade better, discover more Forex Trading Strategies
- Open a FREE Trading Account
Related Articles
Comments
Sidebar rates
Related Posts
Save
Join 350 000+ traders receiving Free Trading Signals
Alerts
Rates
Calendar
Signals