U.S. Non-PMI Manufacturing Index Nearly Unchanged at 52.9%

Today the U.S. non-manufacturing ISM report was published and the U.S. non-manufacturing PMI reached 52.9% in October.

The U.S. non-manufacturing PMI, which is an index that estimates the economic activity in the U.S. non-manufacturing sector, grew for the 23^rd consecutive month; the growth rate slightly declined again from 53.0% in September to 52.9% in September i.e. a 0.1 percent points decrease – virtually unchanged. This means that while the US non-manufacturing sector is still growing, it grew during October by a very slightly slower pace in October compared to September.

The leading sectors among U.S. non-manufacturing industries that grew during October included: Management of Companies & Support Services; Information; Transportation & Warehousing; Mining; Retail Trade.

The leading industries that contracted during October included: Arts, Entertainment & Recreation; Public Administration; Real Estate, Rental & Leasing; Educational Services; Finance & Insurance; Utilities; Construction; and Wholesale Trade.

The reports show that prices related to the non-manufacturing industries were growing slower in October than in September.  The business activity/production also grew slower.

This report didn’t seem to have much of an effect on the major commodities prices as gold, silver and oil prices are currently traded up.

The major U.S. stock market indexes are currently traded up including the DOW, S&P500 and NASDAQ.

Current gold price, short term futures (December 2011 delivery) is traded at $ 1,765 per t oz. a $36.1 increase or 2.09%, as of 15:34*.

Current Nymex crude oil price, short term futures (December 2011 delivery) is traded up by 4.57%, at $79.13 per barrel as of 15:34*.

Euros to USD is currently traded down at1.3328 a 0.1547% decrease as of 18:30*.

(* GMT)

For more on this subject:

• U.S. Non-PMI Manufacturing Index Slightly Slipped to 53%
• U.S non-PMI manufacturing index slightly rose to 53.3%
• U.S. PMI Manufacturing Index Slightly Slipped to 50.8%

Lior Cohen, M.A. commodities analyst and blogger at Trading NRG.