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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
US DATA
- The ISM service index surprisingly increased from 54.4 to 56.5 (cons 53.3) in November, showing no sign of the continued relative weakness in last week’s manufacturing print (49.0, -1.2pts).
- In doing so, it re-widens the service ISM-PMI gap to 10.3 although it remains off latest highs of 13.2 from Aug as the two surveys portray notably different health checks on the service economy.
- Notably, the ISM survey paints a picture of domestic strength vs foreign weakness: business activity/production and imports surged (+9pts) but new orders (-0.5pts) were led by extremely weak new export orders (38.4, -9.3pts) at levels last seen in the depths of the GFC and pandemic.
- Minimal change in prices, still elevated at 70.0 (-0.7pts). It’s off a high of 84.6 in April but far stickier than the peak to latest decline from 87 to 43 for manufacturing, further evidence of continued relative strength in service inflation.
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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