Economic activity in the U.S. services sector contracted for the second consecutive month in September, with the Institute for Supply Management (ISM Non-Manufacturing PMI, arriving at 45.4 in September.
This reading, following April’s print, 41.8, and came in better than market expectations, or 44.
More details of the report revealed that the New Orders Index rose to 41.9 32.9, and the Employment Index slightly higher, to 31.8 in the 30.
“Respondents remain concerned about the ongoing impact of the corona virus,” said Anthony Nieves, Chairman of ISM’s Non-Manufacturing Business Survey Committee. “In addition, a large number of respondents from each company are you hoping and/or planning for a resumption of business.”
The reaction of the Market
The US Dollar Index edged lower, with the initial reaction, and has been seen for the last time, losing 0.28% on the day at 97.40.