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Introduction
The ADP Nonfarm Employment Change is a key economic indicator that measures the monthly change in private sector employment. It provides valuable insights into the strength of the labour market and overall economic growth. This presentation will analyse the impact of ADP Nonfarm Employment Change on the economy and explore its implications.
Definition of ADP Nonfarm Employment Change
ADP Nonfarm Employment Change refers to the monthly change in private sector employment in the United States, excluding the farming industry. It is based on payroll data from approximately 400,000 U.S. businesses and covers about 24 million employees. This data is released ahead of the official government employment report and is considered a reliable indicator of labor market conditions.
ISM Non-Manufacturing PMI
ISM Non-Manufacturing PMI is a widely followed economic indicator that measures the business activity in the non-manufacturing sector. It provides a snapshot of economic conditions and is based on surveys of purchasing managers. A reading above 50 indicates expansion, while below 50 indicates contraction.
Correlation between ADP and PMI
There is often a strong correlation between ADP Nonfarm Employment Change and ISM Non-Manufacturing PMI. A positive ADP change is usually followed by an expansionary PMI, indicating a growing job market and robust economic activity. Conversely, a negative ADP change may lead to a contractionary PMI, suggesting a weakening job market and economic slowdown.
Previous ADP Data results:
Previous ISM Data results:
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