US: ISM Non-Manufacturing PMI drops to 56.7 in January vs 57.2 expected
|"The NMI registered 56.7 percent, which is 1.3 percentage points lower than the December reading of 58 percent," the ISM said in its latest Non-Manufacturing IRM Report on Business.
Key takeaways from the press release
- The New Orders Index registered 57.7 percent, 5 percentage points lower than the reading of 62.7 percent in December.
- The Employment Index increased 1.2 percentage points in January to 57.8 percent from the December reading of 56.6 percent.
- The Prices Index increased 1.4 percentage points from the December reading of 58 percent to 59.4 percent, indicating that prices increased in January for the 20th consecutive month.
- Respondents are concerned about the impacts of the government shutdown but remain mostly optimistic about overall business conditions.
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