The ISM Non-Manufacturing Index figures for the month of March have been released in United States. The announced rate of 57.3 was lower that the market’s expectation of 59.5 and the previous reading of 59.7 for the month of February. Following the news announcement the dollar did not appear to demonstrate any significant volatility as a result of this news.
The ISM Non-Manufacturing index which is released by the Institute for Supply Management shows what the business conditions in the US non-manufacturing sector are. As the manufacturing sector is much more dominant and existent in the US industry the particular index does not affect that much the country’s economic growth. Usually a reading above 50 is considered as bullish while less than 50 bearish.