Highlights of the June 2015 US ISM non-manufacturing PMI data report 6 July 2015

  • Prior 55.7
  • Business activity 61.5 vs 60.0 exp. Prior 59.5
  • Employment 52.7 vs 55.3 prior
  • New orders 58.3 vs 57.9 prior
  • Prices paid 53.0 vs 55.9 prior

A mixed bag really Headline slightly lower than expected but up on last month. Activity and new orders higher but employment and prices fell

USDJPY doing nothing at 122.66

It's the 65th month of expansion and despite the falling prices respondents see the prospect of higher food cost

There's also been a faster build in inventories which have risen for the 3 months. That could signal problems. They rose to 55.0 from 51.0 prior. Backlogs expanded to 50.5 from the contracting 48.5 and export orders fell for the second month to 52.0 from 55.0. Blame that dollar