US: Economic activity in the non-manufacturing sector grew in April for the 88th consecutive month - ISM

Eren Sengezer FXStreet

Economic activity in the non-manufacturing sector grew in April for the 88th consecutive month, said purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business.

Key quotes:

The NMI registered 57.5 percent, which is 2.3 percentage points higher than the March reading of 55.2 percent. This represents continued growth in the non-manufacturing sector at a faster rate
The New Orders Index registered 63.2 percent, 4.3 percentage points higher than the reading of 58.9 percent in March.
The Employment Index decreased 0.2 percentage point in April to 51.4 percent from the March reading of 51.6 percent.
The Prices Index increased 4.1 percentage points from the March reading of 53.5 percent to 57.6 percent, indicating prices increased for the 13th consecutive month, at a faster rate in April.

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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