US DATA: Jan ISM Non-Mfg text: “The NMI registered 56.8 percent in
January, 3.8 percentage points higher than the seasonally adjusted 53
percent registered in December, and indicating continued growth at a
faster rate in the non-manufacturing sector. The Non-Manufacturing
Business Activity Index registered 59.5 percent, which is 3.6 percentage
points higher than the seasonally adjusted 55.9 percent reported in
December, reflecting growth for the 30th consecutive month. The New
Orders Index increased by 4.8 percentage points to 59.4 percent, and the
Employment Index increased by 7.6 percentage points to 57.4 percent,
indicating substantial growth in employment after one month of
contraction. The Prices Index increased 1.5 percentage points to 63.5
percent, indicating prices increased at a slightly faster rate in
January when compared to December. According to the NMI, 12
non-manufacturing industries reported growth in January. Respondents’
comments are mostly positive about business conditions. Concern about
cost pressures and the sustainability of the recent spike in activity.”