FX.co ★ ISM Non-Manufacturing New Orders Drop in April 2024

The Institute for Supply Management (ISM) reported a decline in non-manufacturing new orders in the United States for the month of April 2024. The latest data showed that the new orders index fell to 52.2 from 54.4 in March 2024. This decrease indicates a slowdown in the rate of new orders in the services sector, which is a key component of the US economy.

The decline in new orders could potentially signal a weakening in consumer demand or business investment, raising concerns about the overall economic outlook. Economists and analysts will closely monitor future ISM reports to assess whether this trend continues in the coming months. The update on the ISM Non-Manufacturing New Orders data was released on 3rd May 2024, providing a snapshot of the economic activity in the US services sector at the beginning of the second quarter.