Non-Manufacturing ISM Takes a Modest Dip

The ISM non-manufacturing employment index fell to 41.1 in September from last month’s 44.3.  This should take away any chances for upward revisions to Friday’s payroll release.  The standalone business index finished at 55.2 from 55.1 a month prior, while the prices paid Index jumped to 53.0 from 48.8.  The headline number came at 50.6, which was below both market expectations (51.9), and the previous month’s release (50.9).  Despite being somewhat disappointing, what is important is that the number remained above 50.