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ISM Non-Manufacturing PMI: 54.7 – Better than Expected, But

ISM’s purchasing managers’ index for the services (non-manufacturing) sector stands at 54.7 points in November. Early expectations stood on a slide from 54.2 to 53.6 points.

However, the employment component dropped to 50.3 points, hardly above the 50 point mark separating growth from contraction. This is a worrying sign towards the Non-Farm Payrolls. The employment component stood on 54.9 points last month.

The positive figure within this report is a leap in new orders: 58.1 points.

In addition, the US also reported factory orders, which surprised with a rise of 0.8%, significantly better than no change that was expected.

This indicator and especially the employment component, provide good hints for the Non-Farm Payrolls. Here are more hints:

Further reading:  US recession already in play? One lone voice continues insisting

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.