US Non-Manufacturing PMI Falls to 3-Year Low

The ISM Non-Manufacturing PMI for the US slumped to 52.6 in September from 56.4 in the previous month and well below market consensus of 55.0. It was the lowest reading since August 2016.
ISM | Joana Ferreira | joana.ferreira@tradingeconomics.com 10/3/2019 2:19:27 PM
The New Orders Index slumped 6.6 points from the previous month to 53.7, the lowest since August 2016, and the Employment Index dropped 2.7 points to 50.4, the weakest since February 2014. In addition, the Business Activity Index decreased 6.3 points to 55.2, while the Prices Index rose 1.8 points to 60.0.

"According to the NMI®, 13 non-manufacturing industries reported growth. The non-manufacturing sector pulled back after reflecting strong growth in August. The respondents are mostly concerned about tariffs, labor resources and the direction of the economy.”

The 13 non-manufacturing industries reporting growth in September — listed in order — are: Utilities; Retail Trade; Construction; Mining; Agriculture, Forestry, Fishing & Hunting; Accommodation & Food Services; Public Administration; Management of Companies & Support Services; Finance & Insurance; Transportation & Warehousing; Information; Health Care & Social Assistance; and Professional, Scientific & Technical Services. The four industries reporting a decrease are: Educational Services; Other Services; Real Estate, Rental & Leasing; and Wholesale Trade."

US Non-Manufacturing PMI Falls to 3-Year Low