US: Economic activity in the non-manufacturing sector grew in April for the 88th consecutive month - ISM

Economic activity in the non-manufacturing sector grew in April for the 88th consecutive month, said purchasing and supply executives in the latest Non-Manufacturing ISM Report On Business.

Key quotes:

• The NMI registered 57.5 percent, which is 2.3 percentage points higher than the March reading of 55.2 percent. This represents continued growth in the non-manufacturing sector at a faster rate
• The New Orders Index registered 63.2 percent, 4.3 percentage points higher than the reading of 58.9 percent in March.
• The Employment Index decreased 0.2 percentage point in April to 51.4 percent from the March reading of 51.6 percent.
• The Prices Index increased 4.1 percentage points from the March reading of 53.5 percent to 57.6 percent, indicating prices increased for the 13th consecutive month, at a faster rate in April.