US ISM Index at 53.7%, Higher than Expected - 5.6.2012

The US Non-Manufacturing Institute of Supply Management’s Index increased to 53.7 per cent in May from 53.5 per cent in April. The forecast of the ISM announcement was at 53.5 per cent. Since the figure was above the 50 level, it indicates expansion, however the increase was limited. The non-manufacturing ISM Index peaked in February at 57.3 and then fell continuously in March and April bouncing modestly higher in May.