He US Institute for Supply Management (ISM) Services Purchasing Managers Index (PMI) has fallen in February to 52.6 points, eight tenths below the 53.4 in January. The data disappoints market expectations, since a decline to 53 was expected.
The employment component of the indicator has fallen to 48 from 50.5, while the prices paid index has fallen to 58.6 from 64. The The only component that has risen has been new orders, which has risen to 56.1 from 55, its highest level in six months.
On the other hand, the United States has published its figures for factory orders for the month of January, showing a drop of 3.6%, the largest recorded since April 2020, in the middle of the first wave of the coronavirus pandemic. The result has worsened the consensus forecasts, which estimated the fall at 2.9%. Furthermore, the December figure has been revised downwards, standing at -0.3% compared to the previous +0.2%.
dollar reaction
The Dollar Index (DXY) has fallen following the releases to 103.58, its lowest level in 12 days. At the time of writing, the greenback is trading above 103.70, losing 0.13% daily.
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
