US: ISM Non-Manufacturing PMI plummets to 57.6 in December vs 59 expected
|"The NMI (Non-Manufacturing Index)registered 57.6 percent, which is 3.1 percentage points lower than the November reading of 60.7 percent," the ISM reported on Monday.
Key takeaways from the press release
- This represents continued growth in the non-manufacturing sector, at a slower rate.
- The Non-Manufacturing Business Activity Index decreased to 59.9 percent, 5.3 percentage points lower than the November reading of 65.2 percent.
- The New Orders Index registered 62.7 percent, 0.2 percentage point higher than the reading of 62.5 percent in November.
- The Employment Index decreased 2.1 percentage points in December to 56.3 percent from the November reading of 58.4 percent.
- The Prices Index decreased 6.7 percentage points from the November reading of 64.3 percent to 57.6 percent, indicating that prices increased in December for the 34th consecutive month.
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