Down from Septembers 61.6 level (was highest since 1997) but higher than expected and remain near high levels.
- nonmanufacturing index 60.3 versus 59.1 expected
- business activity fell to 62.5 from 65.2
- new orders fell to 61.5 versus 61.6
- employment fell to 59.7 from 62.4
- supplier deliveries rose to 57.5 versus 57.0
- prices paid fell to 61.7 from 64.2
- inventory change rose to 56.0 from 54.5
- backlog of orders fell to 53.5 versus 59.0
- new export orders unchanged at 61.0
- imports fell to 51.0 versus 55.0
- inventory sentiment rose to 62.0 versus 59.5
The level above 60 is still very strong and suggests that growth remains on track for a solid fourth-quarter.
Although companies are fighting concerns about online trade war and citing higher prices for supplies amid tariffs, the prices paid index declined to a four-month low. New orders were little changed from the prior month. Exports remained near the best level since April despite trade war concerns. Imports on the other hand, moved to the lowest level since February according to the ISM.
The USDJPY moved up to from a day low at 113.07 to 113.19 with the price currently trading near the middle of that range at 113.12. The 113.07 was the low for the day.
