ISM
  • Prior report came in at 56.9
  • ISM nonmanufacturing 56.5 versus 61.0 estimate
  • business activity/production 55.1 versus 59.9 last month
  • new borders 56.1 versus 61.7 last month
  • employment 48.5 versus 52.3 last month
  • supplier delivery 66.2 versus 65.7 last month
  • inventories 50.8 versus 49.4 last month
  • prices 83.1 versus 82.3 last month
  • backlog of orders 64.2 versus 57.4 last month
  • new export orders 53.0 versus 45.9 last month
  • imports 51.7 versus 51.1 last month
  • inventory sentiment 55.3 versus 47.5 last month

Of note

  • employment fell below the 50 level indicative of a contracting service sector employment.
  • 14 industries reported growth in the service index
  • the composite index indicated growth for the 21st consecutive month

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