- Highest since 2011
- Prior reading was 56.4
- Employment 56.5 vs 53.2
- New orders 63.6 vs 60.6 prior
- Full text of the report
Great news for the US dollar and keeps the focus on the possibility of a December taper.
ISM manufacturing index
A taper is still probably only a 15% probability but the ISM non-manufacturing index and non-farm payrolls later this week could increase that number significantly and make a January taper a significant risk.
Comments in the report:
- “Outlook for the remainder of the year and into 2014 is trending positive.”
- “Overall business climate is good. Business is steady.”
- “Getting much busier toward the end of the year.”
- “Sequestration and cutbacks in defense spending continue to impact business.”
