US ISM Non-Manufacturing Composite rose to 57.8 in September, up from 56.9, beat expectation of 56.0. Looking at some details, production rose 0.6 to 63.0. New orders rose 4.7 to 61.5. Employment rose 3.9 to 51.8, back in expansion. Prices dropped -5.2 to 59.0.
ISM said: “The composite index indicated growth for the fourth consecutive month after contraction in April and May. Respondents’ comments remain mostly optimistic about business conditions and the economy, which correlates directly to those businesses that are operating. There continues to be capacity and logistics issues, as business volumes have increased.”
