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U.S. ISM Non-Manufacturing PMI at fresh 2016 high

Staff writer ▼ | May 6, 2016
The ISM Non-Manufacturing PMI index increased 1.2 percentage points to 55.7 percent in April of 2016, higher than market expectations of 54.7.
ISM Non-Manufacturing
USA   Business activity slowed, new orders expanded
Although business activity slowed, new orders expanded at a faster pace, employment grew for the second month and prices increased for the first time in three months, reflecting optimism over business and growth.

The Non-Manufacturing Business Activity Index decreased to 58.8 percent, 1 percentage point lower than the March reading of 59.8 percent, reflecting growth for the 81st consecutive month, at a slower rate in April.

The New Orders Index registered 59.9 percent, 3.2 percentage points higher than the reading of 56.7 percent in March.

The Employment Index increased 2.7 percentage points to 53 percent from the March reading of 50.3 percent and indicates growth for the second consecutive month.

The Prices Index increased 4.3 percentage points from the March reading of 49.1 percent to 53.4 percent, indicating prices increased in April for the first time in three months.