US Non Manufacturing PMI Slower Pace Raises Concerns

The U.S. economy’s service sector expanded in January but at a slower pace than the previous month, according to an industry report released Wednesday.

The Institute for Supply Management (ISM) said its index of non-manufacturing activity fell to 53.5 from 55.8 the month before. The reading was below expectations of 55.1 from a Reuters poll of 73 economists.

A reading above 50 indicates expansion in the service sector and a reading below 50 indicates contraction.

via CNBC

Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, he established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza