OctaFX | OctaFX Forex Broker
Open trading account
Back

US: ISM Non-Manufacturing weakens but not as much as the manufacturing index - Wells Fargo

The US ISM Non-manufacturing Index dropped in December from 60.7 to 57.6. The non-manufacturing index did not weaken as much as the manufacturing index, which suggests that the overall economy continues to expand at a solid rate, explained Jay Bryson, economist at Wells Fargo. 

Key Quotes:  

“December’s reading was a bit softer than expected, but it did not exhibit the same falloff as the ISM manufacturing index did in December.”

“The prices paid component receded to an 18-month low of 57.6, which indicates that inflationary pressures may be subsiding somewhat.”

“Trade wars tend to have less effect on the service sector than on the factory sector.”

Wall Street builds on Friday's gains, Nasdaq and S&P 500 both up more than 1%

After starting the day on a mixed note, major equity indexes in the United States gathered momentum and extended last Friday's rally as investors are
Read more Previous

Fed's Bostic: Government shutdown’s impact could become 'more material' if it endures

Atlanta Fed President Raphael Bostic is now on the wires, delivering the key remarks found below. US economy looks ‘pretty solid’. Market volatili
Read more Next
Start livechat