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ISM Non-Manufacturing PMI falls to 56.2, but employment stable

Another sign of slowdown in the US: the services sector is growing at a slower pace in December: 56.2 points in the ISM Non-Manufacturing PMI. The employment  component suffered a more moderate slide: to 56 from 56.7 points. This may be the sliver lining in the report. Other components experienced bigger drops: new orders dropped under 60 and prices paid under 50 points.

This joins other not-so-impressing figures.

US factory orders for November fell by 0.7% worse than a drop of 0.3% expected. The manufacturing sector wasn’t doing too well, with a slide in the manufacturing PMI reported on Friday.

Earlier, the final services PMI was revised to the downside: from 53.6 to 53.3 points.

More:  7-Year Low On EUR/USD Just The Beginning; Staying Short – BNPP

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.