Send Article via Email

- Headline NMI 54.7 vs 53.5 Consensus
- Business Activity 61.2 vs 55.0 consensus
- Employment 50.3 vs 54.9

" The NMI™ registered 54.7 percent in November, 0.5 percentage point higher than the 54.2 percent registered in October. This indicates continued growth at a slightly faster rate in the non-manufacturing sector. The Non-Manufacturing Business Activity Index registered 61.2 percent, which is 5.8 percentage points higher than the 55.4 percent reported in October, reflecting growth for the 40th consecutive month. The New Orders Index increased by 3.3 percentage points to 58.1 percent. The Employment Index decreased by 4.6 percentage points to 50.3 percent, indicating growth in employment for the fourth consecutive month but at a slower rate. The Prices Index decreased 8.6 percentage points to 57 percent, indicating prices increased at a slower rate in November when compared to October. According to the NMI™, 11 non-manufacturing industries reported growth in November. Respondents' comments are mixed; however, the majority of survey respondents reflect a cautious optimism about current economic conditions."

More from MND:

• MND NewsWire: Details from Wells Fargo Conference Call on Housing Market
• MND NewsWire: Freddie Mac Green Lights Fed Tapering
• MBS Commentary: MBS RECAP: Sideways Mission Accomplished. FOMC Tomorrow
• Mortgage Rate Watch: Mortgage Rates Modestly Higher Ahead of Important Fed Announcement
• MND NewsWire: Commercial Debt Declines Partially Offset by Multi-Family

If you would like to opt-out of receiving email forwards from this person please click here to remove your email address.