US DATA: Aug nonmfg ISM text: “NMI registered 53.7 percent in
August, 1.1 percentage points higher than the 52.6 percent registered in
July. This indicates continued growth this month at a slighter faster
rate in the non-manufacturing sector. The Non-Manufacturing Business
Activity Index registered 55.6 percent, which is 1.6 percentage points
lower than the 57.2 percent reported in July, reflecting growth for the
37th consecutive month. The New Orders Index decreased by 0.6 percentage
point to 53.7 percent. The Employment Index increased by 4.5 percentage
points to 53.8 percent, indicating growth in employment after one month
of contraction. The Prices Index increased 9.4 percentage points to 64.3
percent, indicating substantially higher month-over-month prices when
compared to July. According to the NMI, 10 non-manufacturing industries
reported growth in August. Respondents’ comments continue to be mixed,
and for the most part reflect uncertainty about business conditions and
the economy.”