U.S. ECONOMICS: ISM Services Highest Since August

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The ISM-services composite index rose 2.1 points to 55.2 in April after rebounding 1.5 points to 53.1 in March. This is the best read since the index hit a cycle high of 57.9 in August. However, the employment component dipped to 51.3 from 53.6, but has recovered from February's weather depressed 47.5 (which was the lowest since March 2010). New orders climbed to 58.2 from 53.4 previously. New export orders surged to 57.0 from 49.5 in March (the index had been below 50 since January). Prices paid increased to 60.8 from 58.3. The combined manufacturing and non-manufacturing index improved to 55.2 from 53.2.




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