U.S. non-manufacturing PMI

A Negative U.S. Jobs Surprise and Global Covid Cases Climbs Above 200 million Threshold

August 4, 2021

Wednesday brought two pieces of discouraging news. ADP’s 330k monthly estimate of private U.S. employment growth in July was only about half as much as forecasters were anticipating, down from a 2Q average of 729k per month, and the lowest increase since February. Fed officials have made clear that labor market trends will exert very […] More

Investors Uneasy Awaiting U.S. Jobs and Trade Data

October 4, 2019

Today’s big question is whether the U.S. jobs statistics due in an hour corroborate other weak data released during the past month. Yesterday brought stunning news that the non-manufacturing purchasing managers index slumped 3.8 points in September to a 3-year low and embodied drops of 6.3 points in production and 6.6 points in new business. […] More

Non-Manufacturing Activity in the U.S. and Euro Area

January 5, 2017

The U.S. non-manufacturing purchasing managers index remained flat at 57.2 in December. Not since October 2015 has the NMI been higher than this level. In December, a 4.6-point improvement in the sub-index for new business to 61.6 was counterbalanced with a 4.4-point drop in jobs to a reading of 53.8. Along with today’s smaller-than-forecast ADP estimate […] More

Big Deterioration Last Month of U.S. Non-Manufacturing Relative to Euroland

June 3, 2016

In May, the U.S. non-manufacturing purchasing managers index fell 2.8 points to 52.9, implying the slowest expansion in slightly more than two years.  The indices for production, orders and jobs declined by 3.7, 5.7, and 3.3 points.  Meanwhile, Euroland’s services purchasing managers index edged 0.2 points higher to 53.3.  Service sector activity expanded more rapidly […] More

A Very Strong U.S. Non-Manufacturing Purchasing Managers Survey

August 5, 2015

The dollar appreciated 0.5% against the yen, 0.4% relative to the Australian dollar, 0.3% vis-a-vis the kiwi and Swiss franc and 0.2% versus the euro.  The dollar is down 0.3% against sterling and 0.2% versus the Canadian dollar but unchanged vis-a-vis the yuan. Chinese (-1.7%) and Greek (-2.9%) stocks took another tumble.  In other stock […] More