US: ISM non-manufacturing PMI improves to 60.7 in November vs 59.2 expected
|"The NMI (Non-Manufacturing Index) registered 60.7 percent, which is 0.4 percentage point higher than the October reading of 60.3 percent," the ISM reported on Thursday.
Key takeaways from the press release
- The New Orders Index registered 62.5 percent, 1 percentage point higher than the reading of 61.5 percent in October.
- The Employment Index decreased 1.3 percentage points in November to 58.4 percent from the October reading of 59.7 percent.
- The Prices Index rose 2.6 percentage points from the October reading of 61.7 percent to 64.3 percent, indicating that prices increased in November for the 33rd consecutive month.
- The non-manufacturing sector continued to reflect strong growth in November. However, concerns persist about employment resources and the impact of tariffs. Respondents remain positive about current business conditions and the direction of the economy.
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