Forex Flash: Signs that business are itching to get going – RBC

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FXstreet.com (Barcelona) - Dawn Desjardins of RBC Economics notes that December economic reports suggest that businesses were itching to get going as 2012 came to a close.

The Institute for Supply Management ( ISM ) manufacturing index dribbled back into expansion territory with the non-manufacturing index climbing to the highest level since February 2012. She writes, "The details of these reports were also consistent with business sentiment improving with manufacturers' orders reported as "staying stronger than normal" and the economy viewed as "turning the corner."

Desjardins finishes by noting that the December labour report showed a mild slowing in the pace of hiring with non-farm payroll employment rising by 155,000 following November's 161,000 gain with the unemployment rate steady at 7.8%. The US economy generated 453,000 jobs in the fourth quarter of 2012, which was a slight deceleration from the third quarter's 505,000 increase although the unemployment rate still edged down to average 7.8% from 8.1%. Non-farm payrolls expanded by a total of 1.84 million in 2012, matching 2011's gain with the unemployment rate losing 0.8 percentage points in the course of the year.



The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.



This article appears in: Investing , Forex and Currencies

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