US ISM non-manufacturing PMI prints higher than estimates

US Institute of Supply Management’s (ISM) non-manufacturing PMI index printed at 54.5 in March, bettering the estimated rise to 54.00 from February’s 53.4.

The employment index also made a comeback to expansion territory, printing at 5.3 following last two months of sub-50 readings.

Key points

Business index 59.8 Mar Vs. 57.8 Feb

Prices 49.1 Mar Vs. 45.5 Feb

Employment index 50.3 Mar Vs. 49.7 Feb

New orders 56.7 Mar Vs. 55.5 Feb

Supplier deliveries 51.0 Mar Vs. 50.5 Feb (nsa)

Order backlog 52.0 Mar Vs. 52.0 Feb (nsa)