August Non-manufacturing composite index

  • The US ISM non-manufacturing composite index comes in a bit weaker than expectations at 55.3 vs 55.6 estimate
  • Prior month came in at 53.9
  • Employment 56.2 vs 53.6 last month
  • Prices paid 57.9 vs 55.7
  • New order 57.1 vs 55.1 last

Overall the index came in weaker than expectations but up vs the prior month. The Employment, prices paid and new orders supported the month on month increase. That is the good news. The not so good news is the index is more toward the lows from 2017.