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Though US manufacturing sector grew for 68th consecutive month growth slowdown was larger than expected at 56.9% compared to 59% in August. Headline reading is weakest since June 2015.
Key highlights -
- New orders index growth stands at 56.7%, down 6.7 points from August.
- Business activity index came at 60.2%, 3.7 points lower than August.
- Employment index rose to 58.3%, 2.3% higher from August.
Highlights from industry -
- Information services broadly unaffected.
- Education sector seeing improvement in outlook and stabilization.
- Retail sales sector suffering over recent shock and sales drop but still optimistic over this to be temporary.
- Wholesale traders concerned over Consumer confidence impact from market turmoil.
- Mining suffering from commodity rout.
- Health care business are strong and growing.
- Egg producers are worried over impact of avian flu.
Dollar index, able to make some gains despite drop in services PMI. FXCM Dollar index is currently trading at 12053, up 0.04% for the day so far.
