US DATA: May Non-Mfg ISM text: “The NMI registered 53.7 percent in
May, 0.2 percentage point higher than the 53.5 percent registered in
April. This indicates continued growth this month at a slightly faster
rate in the non-manufacturing sector. The Non-Manufacturing Business
Activity Index registered 55.6 percent, which is 1 percentage point
higher than the 54.6 percent reported in April, reflecting growth for
the 34th consecutive month. The New Orders Index increased by 2
percentage points to 55.5 percent, and the Employment Index decreased by
3.4 percentage points to 50.8 percent, indicating continued growth in
employment at a slower rate. The Prices Index decreased 3.8 percentage
points to 49.8 percent, indicating lower month-over-month prices for the
first time since July 2009. According to the NMI, 13 non-manufacturing
industries reported growth in May. The majority of the respondents’
comments are positive and optimistic about business conditions and the
direction of the economy.”