US Service Sector Grew in December

Economic activity in the services sector grew in December for the 83rd consecutive month, according to data from the Institute for Supply Management on Thursday.
The institute’s non-manufacturing index hit 57.2 in December. The index hit the same number in the previous month.

Economists expected the ISM non-manufacturing index to tick lower to 56.6 in December, according to an estimate from Thomson Reuters.

A reading above 50 indicates expansion in the service sector and a reading below 50 indicates contraction.
“The non-manufacturing sector closed out the year strong, maintaining its rate of month-over-month growth. Respondents’ comments are mostly positive about business conditions and the overall economy,” Anthony Nieves, chair of the Institute for Supply Management, said in the report.

via CNBC

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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, Alfonso Esparza 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 has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. 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