Tuesday, December 05, 2006

Forex News: U.S. Nov. ISM services index rises to 58.9

Forex News

Non manufacturing sectors of the U.S. economy expanded at a faster pace during November, the Institute for Supply Management reported Tuesday.

The ISM non manufacturing index rose to 58.9% from 57.1% in October. This is the highest level since May. The increase surprised forecasts. Economists were looking the index to dip to 55.8%.

The headline index is not a weighted average of the survey's other key components. New orders rose to 57.1% from 56.5%. The employment index rose to 51.6% from 51.0%.


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