Details of the December 2016 US ISM non-manufacturing PMI data report 5 January 2017

  • Prior 57.7

  • Business activity 61.4 vs 61.0 exp. Prior 61.7
  • Employment 53.8 vs 58.2 prior
  • New orders 61.6 vs 57.0 exp
  • Prices paid 57.0 vs 56.3

Again, confirming a drop from last month, and matching the similar move in the Markit services PMI, but still running at decent expansionary levels. New biz is looking strong but perhaps some caution needed over the employment number.

What the Fed will want to know is whether the comment below on a tightening labour market is more wide spread.

US ISM non-manufacturing PMI