USA ISM Non-Manufacturing PMI
|Latest Release:||03-12-2014 15:00:00|
|Next Release:||03-10-2013 14:00:00|
|Source:||Institute for Supply Management|
A wide ranging data update this afternoon is presenting some confirmation of the broad nature of the recovery in the US. Following yesterdayâs manufacturing update the relevant agencies are now publishing their non-manufacturing data. Markit Economics has released itâs Purchasing Managers Index (PMI) for the Services sector, relating to the month of August the reading now stands at 59.5, this compares to 60.8 in July and an expectation of 58.5. The Composite PMI therefore becomes 59.7 in comparison to the previous monthâs 60.6 and an analyst anticipated figure of 57.7. The headline number of the day is the Non-Manufacturing PMI from the Institute of Supply Management, this is currently reading at 59.6 up from Julyâs 58.7 and beating the market expectation of 57.7.
Ahead of tomorrowâs key Non-Farm Payrolls and official Unemployment Rate releases there has been some minor jobs market data published this afternoon. The Department of Labor has published itâs Unit Labor Cost statistic for the second quarter of this year, according to this the cost of hiring has fallen by -0.1% on the quarter compared to an increase of 11.5% in the first three months, markets anticipated a rise of 0.5% to round out the second part of...
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