Editor's PiCK
US March ISM Non-Manufacturing PMI 50.8...Below Market Expectations
JOON HYOUNG LEE
Summary
- The US March ISM Non-Manufacturing PMI was reported at 50.8, below the market expectation of 53.0.
- It was also noted that the ISM Non-Manufacturing PMI is lower compared to the previous month's figure of 53.5.
- The PMI is emphasized as a major leading indicator that can gauge economic expansion and contraction.
The US March ISM Non-Manufacturing Purchasing Managers' Index (PMI) fell short of market expectations.
The Institute for Supply Management (ISM) announced on the 3rd (local time) that last month's Non-Manufacturing PMI was recorded at 50.8. This figure is below the market expectation of 53.0 and also lower compared to the previous month's figure of 53.5.
The ISM Non-Manufacturing PMI is one of the major leading indicators of the economy. Typically, a PMI above 50 indicates an expansion in the economy.
JOON HYOUNG LEE
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