Forex | Forex | US: ADP report disappoints in August (03/09/2009 08:19:40)

US: ADP report disappoints in August

According to the ADP report , employment dropped by 298 000 in August, while the consensus was looking for a decline by 250 000. The July figure was upwardly revised from -371 000 to -360 000. The details show that employment dropped by 152 000 in the goods-producing sector, of which 74 000 in manufacturing (the smallest monthly decline since July 2008) and by 146 000 in the services sector. The outcome is a bit disappointing as it fell shy of expectations, but nevertheless fully confirms the


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