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Currency
by ForexNewsNow Team on October 5, 2010

Indicator analysis: ISM non-manufacturing PMI exceeds forecasts

indicator analysis - U.S. ISM non-manufacturing PMI releasedNEW YORK (Forex News Now) – Activity in the U.S. non-manufacturing sector grew more than forecast in September, a report showed on Tuesday in one of the day’s spotlight realtime forex news events.

In a report that was scrutinized by FX traders, the Institute for Supply Management said its index of non-manufacturing activity, based on surveyed purchasing managers in mostly service sector firms, rose to 53.2 during the month, up from 51.5 in August.

Analysts had expected a more modest increase to 53.2 in September, two major currency market trading news outlets reported.

Anthony Nieves, chair of the Institute for Supply Management Non-Manufacturing Business Survey Committee, said in a statement: “Respondents’ comments continue to be mixed about business conditions, with a slight majority reflecting optimism.”

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