US ISM non-manufacturing dropped in November

FXStreet (Mumbai) - The Institute of Supply Management’s (ISM) non-manufacturing or services activity gauge showed the pace of expansion in the activity dropped more than expected in November.

The headline figure fell to 55.9, compared to the expected drop to 58.00 from October’s 59.1. The key takeaway is the sharp drop in the employment sub index. The employment index had ticked higher last month.

Key Points

Composite index 55.9 Nov vs 59.1 Oct

Business index 58.2 Nov vs 63.0 Oct

Prices 50.3 Nov vs 49.1 Oct

Employment index 55.0 Nov vs 59.2 Oct

New orders 57.5 Nov vs 62.0 Oct

Supplier deliveries 53.0 Nov vs 52.0 Oct(nsa)

Order backlog 51.5 Nov vs 54.5 Oct (nsa)