Macro Brief: ISM Non-Manufacturing
Released on 11/4/2020 @ 10:00 AM ET
Source Link: ISM October 2020 Non-Manufacturing PMI
|ISM Non-Manufacturing Index||57.8||57.6||56.6|
ISM non-manufacturing PMI remained in expansion for the fifth consecutive month in October but dipped slightly from last month's levels. The index missed consensus estimates by a point along with falling 1.2 points from September's mark. Specifically, new orders and business activity expanded at a slower pace while employment remained in expansion for the second consecutive month but also dipped slightly from last month's levels.
16 of 18 non-manufacturing industries reported overall growth led by transportation & warehousing; construction; and accomodation & food services.. The two industries that reported a decrease during the month were public administration and arts, entertainment, & recreation.