US ISM non-manufacturing index for August beats estimates

FXStreet (Mumbai) - The Institute of Supply Management’s (ISM) non-manufacturing/service sector index for August released on Thursday showed the activity slightly slowed but continues to hover near decade highs.

The index printed at 59.00, bettering the estimate of 58.2, but lower than the previous month’s figure of 60.3. The sub indices highlight a slight slowdown in the employment, but still promising.

Index highlights

Business activity 63.9 vs 64.9 prior

Prices paid 50.8 vs 53.7 prior (lowest since April)

New orders 63.4 vs 63.8 prior

Employment 56.0 vs 59.6 prior