Non-Manufacturing ISM Breaks Above 50

September’s non-manufacturing ISM came in this morning at 50.9, compared to a previous reading of 48.4. This is the index’s highest reading since May 2008.  this was inline with market expectations.  September’s Employment Index rose to 44.3 from 43.5 last month.  The standalone Business Index fell slightly to 55.1 from 51.3.  The Prices Paid Index took a significant dip to 48.8 from 63.1.  The new orders index also moved about 50 finishing this month at 54.2.  The new orders index finished below 50 for 11 consecutive months.  Overall, this is a positive report indicating continued improvements in the US service sector.