USA ISM Non Manufacturing Index
The ISM (Institute of Supply Management) Non-Manufacturing Index is based on surveys of more than 400 non-manufacturing firms' purchasing and supply executives. It is used to track economic data and conditions of the nation. By tracking this index, we can better understand the economic conditions. For example, if the index increased then so should stock markets increase because of higher corporate profits. Bond markets, however, can decrease as the Index increases due to potential inflation.
In September we saw that the ISM Non-Manufacturing Index rose and with it, the US Dollar. Non-Manufacturing businesses account for about 90% of the US economy. These figures show strong growth for the US economy but these figures need to remain consistent to contribute towards further improvement.
The figures are set to be released Monday morning. Economists are estimating the figure to drop; stay tuned to see if they're right or not as this could influence the strength of the US Dollar.