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US services PMI gains better than forecast


October, 05 2020
watermark Economic news

According to the American Institute for Supply Management (ISM), the index of business activity in the US services sector in September rose to 57.8%. The indicator for August was noted at 56.9%. Analysts had forecast a decline to 56.3%.


The employment index in the country's services sector in September rose to 51.8% from 47.9% in August.


The purchasing managers' index (PMI) for services, calculated by IHS Markit and also released today, dropped to 54.6 points in September, up from 55 points in August.


Business activity in the US services sector continues to climb for the fourth straight month amid a gradual recovery from the coronavirus crisis. The service sector accounts for almost 90% of US GDP and about 80% of the country's working citizens.


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Foreign exchange trading carries a high risk of losing money due to leverage and may not be suitable for all investors. Before deciding to invest your money, you should carefully consider all the features associated with Forex, as well as your investment objectives, level of experience, and risk tolerance.