ISM Non-Manufacturing Index Shows Economy Moving Forward
February 3, 2012 @ 10:06 AM EST
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Economic Update: ISM Non-Manufacturing (Services Sector) Index
The ISM (Institute of Supply Management) Non-Manufacturing index for January was reported at 56.8, which was well above the consensus estimate for a reading of 53.2 and above the December reading of 52.6 (Nov: 52.0, Oct: 52.9, Sept: 53.0, Aug: 53.3).
Other components of the Report:
- Employment: 57.4 vs. December 49.8 (Nov: 48.9)
- New Orders: 59.4 vs. 54.6 (Nov: 53.0)
- Business Index: 59.5 vs. 55.9 (Nov: 56.2)
- Prices Paid (inflation): 63.5 vs. 62.0 (Nov: 62.5)
The index is designed to indicate the state of the services sector in the economy. Readings above 50 are indicative of expansion while below 50 suggests contraction in the sector.
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