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10/3, 4:00 PM (Source: TeleTrader)
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US non-manufacturing growth slows in September - ISM

Economic activity in the non-manufacturing sector in the United States expanded at a slower in September, according to the Institute for Supply Management's business report released on Thursday. The ISM non-manufacturing index came in at 52.6%, marking a decline from August's figure of 56.4%.

The new orders index plunged by 6.6 percentage points to 53.7% and the business activity/production index fell by 6.3 percentage points month on month to stand at 55.2%. The employment index lost 2.7 percentage points to hit 50.4%, while the inventories index was down from 55% in August to 53% in September.

On the other hand, the backlog of orders index jumped by 5 percentage points to 54% and the prices index rose by 1.8 percentage points to 60%.

Breaking the News / NP