US ISM non-manufacturing in October rises at second fastest rate in a decade

FXStreet (Mumbai) - The Institute of Supply Management’s (ISM) non-manufacturing/services PMI index jumped to 59.1 in October from September’s 56.9. The actual print beats the estimated drop to 56.5 by a wide margin.

The ISM’s measure of services employment advanced to 59.2, the second-highest since August 2005. The number is strong enough to counter the drop in the manufacturing sector employment highlighted by the ISM manufacturing report released on Monday.

Key Points

Composite index 59.1 oct vs 56.9 sep

Business index 63.0 oct vs 60.2 sep

Prices 49.1 oct vs 48.4 sep

Employment index 59.2 oct vs 58.3 sep

New orders 62.0 oct vs 56.7 sep

Supplier deliveries 52.0 oct vs 52.5 sep(nsa)

Order backlog 54.5 oct vs 54.5 sep (nsa)