USA ISM non-manufacturing composite index, 51.5 in August, remained almost flat with a slowdown in employment.
Hmm...
[Washington, 5th Reuters] - The Institute for Supply Management (ISM) announced on the 5th that the non-manufacturing composite index for August was 51.5, almost unchanged from the previous month's 51.4. However, with the softening of the labor market, employment growth slowed down.
It exceeded the threshold of 50, which is considered the boundary between expansion and contraction, and was better than the market estimate of 51.1.
It indicated that economic activity continued to expand at a slower pace than last year.
The new orders index rose from 52.4 in July to 53.0. The service industry employment index decreased from 51.1 in July to 50.2.
The price index rose from 57.0 in July to 57.3. However, due to high interest rates suppressing demand, domestic inflationary pressures are easing.
Companies responding to the ISM survey reported that they are filling vacancies in all areas and replenishing contract employees, while also freezing hiring and reporting that they will not replace employees or retirees.
Michael Pearce, Vice President and Economist for Oxford Economics' USA division, stated, "The economy appears to be slowing down, although it is still moderate. However, there are no signs of a recession yet."
It exceeded the threshold of 50, which is considered the boundary between expansion and contraction, and was better than the market estimate of 51.1.
It indicated that economic activity continued to expand at a slower pace than last year.
The new orders index rose from 52.4 in July to 53.0. The service industry employment index decreased from 51.1 in July to 50.2.
The price index rose from 57.0 in July to 57.3. However, due to high interest rates suppressing demand, domestic inflationary pressures are easing.
Companies responding to the ISM survey reported that they are filling vacancies in all areas and replenishing contract employees, while also freezing hiring and reporting that they will not replace employees or retirees.
Michael Pearce, Vice President and Economist for Oxford Economics' USA division, stated, "The economy appears to be slowing down, although it is still moderate. However, there are no signs of a recession yet."
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minmaru : I feel that the employment statistics and financial estimates are too high... It's unbelievable that the unemployment rate will drop to 4.2...
FANGソルジャー OP minmaru : I can't believe it...
minmaru : If it stays at 4.3, which way will it go... up or down?