Home/Forex News Round Up/USD

US Private Sectors Expands in December

Share Print 0

U.S. private-sector activity continued to expand in December as service-sector growth picked up and hiring increased, an industry report showed on Wednesday.

Financial data firm Markit said its preliminary composite Purchasing Managers Index (PMI) – a weighted average of its manufacturing and services indexes – was 56.2 this month, unchanged from November. Readings above 50 indicate expansion.

December’s service sector PMI rose to 56.0 from 55.9 as new orders increased, prompting businesses to take on more staff. The employment index, after hitting an eight-month low of 52.4 last month, jumped to 55.7 in December, the fastest rate of growth since Markit’s data collection began in late 2009.

Across the private sector, the employment gauge rose to 55.4 from 52.4.

via Reuters

This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.

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

@alfonso_forex

Back to Top