ISM Non-Manufacturing Stays Red Hot in November
|The ISM non-manufacturing index remained hot, rising to 60.7 in November from 60.3 in October. Comments from survey respondents signaled that trade issues and finding qualified labor were the key challenges.
U.S. Service Sector in Good Shape in Q4
- The ISM non-manufacturing rose to 60.7 in November, beating consensus expectations of a decline to 59.0. This was the third consecutive reading above 60, the first time this has occurred in the 21 year history of the survey.
- Among the headline’s sub-components, business activity erased October’s drop and returned to September’s 65.2 reading, while new orders and backlog of orders also climbed on the month.
Employment Gains Slowing but Still Solid
- The employment index was one of the few disappointments in the report. The employment component fell 1.3 points in November and is now down four points from September. At 58.4, however, it is still consistent with a solid gain in payrolls tomorrow.
- Anecdotal evidence from survey respondents suggests that the tariffs are having a wide-ranging impact across industries, such as rising input costs and pulling forward inventory deliveries.
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.