Thursday, 6 December 2012

US services accelerate but private employment hit by Sandy

Economic data on Wednesday were mixed.

In the US, the Institute for Supply Management’s non-manufacturing index rose to 54.7 in November from 54.2 in October and factory orders rose 0.8 percent in October. However, employment in the private sector rose 118,000 in November according to ADP, down from 157,000 in October as a result of superstorm Sandy.

In the euro area, Markit's composite index rose to 46.5 in November from 45.7 in October after the services index rose to 46.7 from 46.0. However, retail sales in the region fell 1.2 percent in October.

Meanwhile, the services sectors in China and the UK slowed in November. HSBC's services PMI for China fell to 52.1 last month from 53.5 in October while in the UK, the Markit/CIPS services PMI fell to 50.2 from 50.6.

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