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U.S. ISM non-manufacturing PMI falls to 53.0 in December

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Investing.com - Service sector activity in the U.S. slowed unexpectedly in December a report released on Monday showed.

The Institute of Supply Management said its non-manufacturing purchasing manager's index declined to 53.0 in December from 53.9 in November.

Analysts had expected the index to increase to 54.5.

On the index, a reading above 50.0 indicates the non-manufacturing sector economy is generally expanding, below 50.0 indicates the sector is contracting.

The New Orders Index contracted after 52 consecutive months of growth for the first time since July 2009, falling to 49.4. The Employment Index ticked up to 55.8, indicating growth in employment for the 17th consecutive month and at a faster rate.

Following the release of the data, the U.S. dollar remained lower against the euro, with EUR/USD up 0.31% to 1.3630.

Meanwhile, U.S. stock markets were mixed. The Dow Jones Industrial Average edged up 0.03%, the S&P 500 index dipped 0.05%, while the Nasdaq Composite index was down 0.49%.

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


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

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