US DATA: Apr ISM Non-Mfg text: “The NMI registered 53.5 percent in
April, 2.5 percentage points lower than the 56 percent registered in
March. This indicates continued growth this month, but at a slower rate
in the non-manufacturing sector. The Non-Manufacturing Business Activity
Index registered 54.6 percent, which is 4.3 percentage points lower than
the 58.9 percent reported in March, reflecting growth for the 33rd
consecutive month. The New Orders Index decreased by 5.3 percentage
points to 53.5 percent, and the Employment Index decreased by 2.5
percentage points to 54.2 percent, indicating continued growth in
employment at a slower rate. The Prices Index decreased 10.3 percentage
points to 53.6 percent, indicating prices increased at a significantly
slower rate in April when compared to March. According to the NMI, 15
non-manufacturing industries reported growth in April. Respondents’
comments affirm the slowing rate of growth. In addition, they remain
concerned about rising fuel costs and the impact on shipping,
transportation and petroleum-based product costs.”