Today's US Economic Data Review
#US #economic #data
Reviewing today's economic data, as follows:
The ISM Non-Manufacturing Index decreased to 62.7% in April from 63.7% in March. The dividing line between expansion and contraction is 50.0%. The April reading marks the 11th month running of growth for the services sector and follows a record high reading for March.The Key takeaway from the report is the understanding that services sector activity is still running at a fast pace, as business activity slowed only modestly from the record pace logged in March.
The ADP Employment Change report estimated that 742,000 jobs were added to private-sector payrolls in April following an upwardly revised 565,000 increase from 517,000 in March. This was the largest increase since September 2020.
The IHS Markit Services PMI for April was revised higher to 64.7% from 63.7% in the preliminary reading.
The weekly MBA Mortgage Applications Index decreased 0.9% following a 2.5% decline in the prior week.
Have a healthy day, Keep the Faith!
#economic, #data,
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