US: Continued growth in the non-manufacturing sector at a faster rate - ISM

Eren Sengezer FXStreet

According to the latest Non-Manufacturing ISM Report on Business, economic activity in the non-manufacturing sector grew in August for the 92nd consecutive month.

Key takeaways:

The NMI registered 55.3 percent, which is 1.4 percentage points higher than the July reading of 53.9 percent.
This represents continued growth in the non-manufacturing sector at a faster rate.
The New Orders Index registered 57.1 percent, 2 percentage points higher than the reading of 55.1 percent in July.
The Employment Index increased 2.6 percentage points in August to 56.2 percent from the July reading of 53.6 percent.
The Prices Index increased 2.2 percentage points from the July reading of 55.7 percent to 57.9 percent, indicating prices increased in August for the third consecutive month.

Author

Eren Sengezer

FXStreet

As an economist at heart, Eren Sengezer specializes in the assessment of the short-term and long-term impacts of macroeconomic data, central bank policies and political developments on financial assets.

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