ISM Non-Manufacturing Index Settles Higher
|The ISM non-manufacturing composite index rose 0.5 points in June to 57.4, surprising consensus estimates which called for a slight dip. Service sector activity appears to be settling to a comfortable pace of expansion.
Little Deviation from Solid Expansion
- The headline ISM non-manufacturing index recovered most of the ground lost in May by rising 0.5 points to 57.4 in June. The rebound largely resulted from small gains across sub-indices.
- The index of business activity gained 0.1 point to 60.8, which signals continued strength in demand for services. Most respondents reported business activity was the same as in May. The only sector to report falling activity was retail trade.
Hiring Moderates Slightly, Price Pressure Returns
- The major sub-indices that declined in June also recorded a bump in May, including employment and order backlog. Both settled solidly in expansion territory./li>
- The prices paid measure moved back above the demarcation line in June after posting in contraction territory in May. Measures of price pressures have come in soft recently, making this timely gauge an important one to watch in coming months.
Download The Full Economic Indicators
Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers.