Friday, October 3, 2014

ISM Nonmanufacturing Index Declined in September from Previous Month Record High

In September, the ISM nonmanufacturing index declined slightly from a record high in August to 58.6. Any reading above 50 indicates industry expansion and September is the 56th month the index has remained above that threshold.

The details of the report were uneven. The employment index saw strong growth, improving 1.4 points to 58.5. It is the highest reading since 2005. Without any major upcoming economic hurdles, employment index should maintain its healthy path. Exports improved 5.0 points, which may help the nominal trade deficit, and GDP.

Business output shot up to declined 2.1 points to 62.9. New orders also declined in September, settling at 61.0.

Read the ISM report.

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