US: ISM Non-Manufacturing PMI rose to 59.7 in February vs 57.3 expected

Eren Sengezer FXStreet

"The NMI registered 59.7 percent, which is 3 percentage points higher than the January reading of 56.7 percent. This represents continued growth in the non-manufacturing sector, at a faster rate," the Institue for Supply Management (ISM) said in its latest Non-Manufacturing ISM Report on Business.

Key takeaways from the press release

The Non-Manufacturing Business Activity Index increased to 64.7 percent, 5 percentage points higher than the January reading of 59.7 percent, reflecting growth for the 115th consecutive month, at a faster rate in February.
The New Orders Index registered 65.2 percent, 7.5 percentage points higher than the reading of 57.7 percent in January.
The Employment Index decreased 2.6 percentage points in February to 55.2 percent from the January reading of 57.8 percent.
The Prices Index decreased 5 percentage points from the January reading of 59.4 percent to 54.4 percent, indicating that prices increased in February for the 21st 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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