US DATA: May nonmfg ISM text: “NMI registered 54.6 in May, 1.8 pts
higher than the 52.8 in April, and indicating continued growth at a
faster rate in the non-manufacturing sector. The Non-Manufacturing
Business Activity Index decreased 0.1 pt to 53.6, reflecting growth for
the 22nd consecutive month, but at a slightly slower rate than in April.
The New Orders Index increased by 4.1 percentage points to 56.8 percent.
The Employment Index increased 2.1 percentage points to 54 percent,
indicating growth in employment for the ninth consecutive month and at a
faster rate. The Prices Index decreased 0.5 percentage point to 69.6
percent, indicating that prices increased at a slightly slower rate in
May when compared to April. According to the NMI, 16 non-manufacturing
industries reported growth in May. Respondents’ comments are mostly
positive about overall business conditions. There is a sentiment that
there is a degree of stability in the economy; however, a continued
concern exists over fuel costs and various volatile commodities.”
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