U.S. ISM non-manufacturing PMI declines unexpectedly

 U.S. ISM non-manufacturing PMI declines unexpectedly
U.S. ISM non-manufacturing PMI declines unexpectedly
U.S. ISM non-manufacturing PMI declines unexpectedly
U.S. ISM non-manufacturing PMI declines unexpectedly
U.S. ISM non-manufacturing PMI declines unexpectedly
U.S. ISM non-manufacturing PMI declines unexpectedly

Forexpros – Service sector activity in the U.S. declined unexpectedly in October, industry data showed on Thursday.

In a report, the Institute of Supply Management said its non-manufacturing purchasing manager's index dipped by 0.1 points to 52.9 in October from 53.0 in September. 

Analysts had expected the index to rise by 0.7 points to 53.7 in October.

On the index, a reading above 50.0 indicates the non-manufacturing sector economy is generally expanding, below 50.0 indicates the sector is contracting.

The New Orders Index fell by 4.1 points to 52.4. The Employment Index rose 4.6 points to 53.3, while the Prices Paid Index declined 4.8 points to 57.1.

Following the release of the data, the U.S. dollar was up against the euro, with EUR/USD shedding 0.51% to trade at 1.3676.

Meanwhile, U.S. stock markets were mixed after the data. The Dow Jones Industrial Average rose 0.2%, the S&P 500 index dipped 0.2%, while the Nasdaq Composite index slumped 0.25%.