The Institute of Supply Management’s (ISM) non-manufacturing/services PMI index
jumped to 59.1 in October from September’s 56.9. The actual print beats the
estimated drop to 56.5 by a wide margin.
The ISM’s measure of services
employment advanced to 59.2, the second-highest since August 2005. The number is
strong enough to counter the drop in the manufacturing sector employment
highlighted by the ISM manufacturing report released on
Monday.
Key Points
Composite index 59.1 oct vs
56.9 sep
Business index 63.0 oct vs 60.2 sep
Prices 49.1 oct vs
48.4 sep
Employment index 59.2 oct vs 58.3 sep
New orders 62.0 oct
vs 56.7 sep
Supplier deliveries 52.0 oct vs 52.5 sep(nsa)
Order
backlog 54.5 oct vs 54.5 sep (nsa)
