US ISM Non-Manufacturing Composite rose to 55.5 in January, up from 55.0, beat expectation of 55.1. Looking at some details, production rose 3.9 to 60.9. New orders rose 0.9 to 56.2. However, employment dropped -1.7 to 53.1.
ISM said: “The non-manufacturing sector exhibited continued growth in January. The respondents remain mostly positive about business conditions and the overall economy. Respondents continue to have difficulty with labor resources.”
