US: ISM Non-Manufacturing PMI plummets to 57.6 in December vs 59 expected

Eren Sengezer FXStreet

"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.

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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