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ISM Services PMI Eased in Oct

US DATA
MNI (London)

US ISM SERVICES PMI 56.6 OCT VS 57.8 SEP

US ISM SERVICES BUSINESS INDEX 61.2 OCT VS 63.0 SEP

US ISM SERVICES EMPLOYMENT INDEX 50.1 OCT VS 51.8 SEP

US ISM SERVICES NEW ORDERS 58.8 OCT VS 61.5 SEP

US ISM SERVICES SUPPLIER DELIVERIES 56.2 OCT VS 54.9 SEP (NSA)

The ISM Services PMI eased 1.2pt to 56.6 in Oct, falling short of market expectations looking for a broadly unchanged reading of 57.5. Among the main four categories, New Orders (-2.7pt) saw the largest decline, followed by Business Activity (-1.8pt) and Employment (-1.7pt). Supplier Deliveries (+1.3pt) was the only major category to show a monthly gain. Employment recorded the second successive reading above the 50-mark after having registered below it for six month in a row. Among all sub-indicators, Inventory sentiment (-1.3pt to 51.1) saw the biggest drop, while Imports (+5.9pt to 63.9) registered the largest increase, followed by Prices (+4.9pt to 63.9). Inventories and the Backlog of Work both ticked up 4.3pt to 53.1 and 54.4, respectively with Inventories shifting back into expansion after sitting below the 50-mark for two months. Exports ticked up as well, rising by 1.1pt to 53.7 in Oct.

MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com
MNI London Bureau | +44 203-865-3814 | irene.prihoda@marketnews.com

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