ISM Non-Manufacturing Report Above ConsensusJune 5, 2012 @ 10:11 AM EST
Economic Update: ISM Non-Manufacturing (Services Sector) Index
The ISM (Institute of Supply Management) Non-Manufacturing index for May was reported at 53.7, which was above the consensus estimate for a reading of 53.2 and the April reading of 53.5 (March: 56.7, February: 57.3).
Other components of the Report:
- Employment: 50.8 vs. last month: 54.2
- New Orders: 55.5 vs. last month: 54.6
- Business Index: 55.6 vs. last month: 54.6
- Prices Paid (inflation): 49.8 vs. last month: 53.6
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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Other stories on the US Economy to review:
Some Good News: Employment Trend Index Moves Up
May Jobs Report Disappoints Big Time
ISM Report Shows Growth Slowing
Q1 GDP Revised Lower
Weekly Jobless Claims Continue to Rise
Challenger Planned Job Cuts Rise
ADP Employment Report Below Expectations
- Pending Home Sales Tank
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