US ISM non-manufacturing composite dropped to 55.5, down from 56.1 and missed expectation of 57.0.
Look at the details:
- Business Activity Index increased rose from 57.4. to 59.5.
- New Orders Index dropped from 59.0 to 58.1.
- Employment Index dropped from 55.9 to 53.7.
- Prices Index dropped from 58.7 to 55.7.
- 15 non-manufacturing industries reported growth.
ISM noted: “The non-manufacturing sector has experienced an uptick in business activity, but in general, there has been a leveling off. Respondents are still mostly optimistic about overall business conditions, but concerns remain about employment resources.”
