- Analytics
- News and Tools
- Market News
- U.S. ISM non-manufacturing PMI rises more than forecast in February
U.S. ISM non-manufacturing PMI rises more than forecast in February
The Institute for Supply Management (ISM) announced on Tuesday its non-manufacturing index (NMI) came in at 59.7 in February, which was 3.0 percentage points higher than the January reading of 56.7 percent. This pointed to the strongest expansion in the services sector in three months.
Economists forecast the index to increase to 57.3 last month. A reading above 50 signals expansion, while a reading below 50 indicates contraction.
All 18 non-manufacturing industries reported growth in February, the ISM said.
According to the report, the ISM’s non-manufacturing business activity measure increased to 64.7 percent, 5 percentage points higher than the January reading. That reflected growth for the 115th consecutive month, at a faster pace in February. The new orders gauge surged by 7.5 percentage points to 65.2 percent. Meanwhile, the employment indicator declined 2.6 percentage points in February to 55.2 percent.
Commenting on the data, the Chair of the ISM Non-Manufacturing Business Survey Committee, Anthony Nieves, noted, "The past relationship between the NMI and the overall economy indicates that the NMI for February (59.7 percent) corresponds to a 3.9-percent increase in real gross domestic product (GDP) on an annualized basis."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
