U.S. Non-PMI Manufacturing Index Slightly Slipped to 53%

Today the U.S. non-manufacturing ISM report was published and the U.S. non-manufacturing PMI reached 53.0% in September.

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 22nd consecutive month; the growth rate slightly declined from 53.3% in August to 53.0% in September i.e. a 0.3 percent points decrease. This means that while the US non-manufacturing sector is still growing, it grows at a slightly slower pace in September compared to August.

The leading sectors among U.S. non-manufacturing industries that grew during September include: Mining; Management of Companies & Support Services; Utilities; Wholesale Trade.

The leading industries in contraction during September include: Arts, Entertainment & Recreation; Educational Services; Professional, Scientific & Technical Services; Real Estate, Rental & Leasing.

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

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 slightly up including the DOW, S&P500 and NASDAQ.

Current gold price, short term futures (November  2011 delivery) is traded at $ 1,641 per t oz. a $25.2 increase or 1.56%, as of 19:03*.

Current Nymex crude oil price, short term futures (November  2011 delivery) is traded up by 4.57%, at $79.13 per barrel as of 18:18*.

Euros to USD is currently traded down at 1.3328 a 0.1547% decrease as of 18:30*.

(* GMT)

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