US ISM non-manufacturing index to moderate higher – Danske Bank

Research Team at Danske Bank, suggests that the key US data release today is the ISM non-manufacturing index (16:00 CET).

Key Quotes

“The index fell from 55.5 to 51.4 in August, the lowest level since the crisis. As the US service sector has been the main (only) driver of growth, it will be very important to see whether this low level was just a 'one off' or whether the signals of weak growth in the service sector persist.

We expect the index to moderate higher and look for a reading of 52.5 in September. In addition, the ADP report (14:15 CET) could attract attention, as it may provide clues on the strength of Friday's jobs report.”