US: ISM Non-Manufacturing PMI improves to 55 vs. 54.5 expected
|- ISM Non-Manufacturing rose to 55 in December from 53.9.
- US Dollar Index extends rebound beyond the 97 mark.
The business activity in the US' service sector expanded at a strong pace in December with the Institute for Supply Management's (ISM) Non-Manufacturing PMI improving to 55 from 53.9 in November. This reading came in better than the market expectation of 54.5.
The US Dollar Index inched higher on the back of upbeat data and was last up 0.42% on the day at 97.02.
Commenting on the data, "the non-manufacturing sector had an uptick in growth in December," noted Anthony Nieves, Chair of the Institute for Supply Management (ISM) Non-Manufacturing Business Survey Committee. "The respondents are positive about the potential resolution on tariffs. Capacity constraints have eased a bit; however, respondents continue to have difficulty with labor resources."
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.