ISM Non-Manufacturing Index (Services Sector) Improves Again, But...

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Economic Update: ISM Non-Manufacturing (Services Sector) Index

The ISM (Institute of Supply Management) Non-Manufacturing index for September was reported at 55.1, which was above the consensus estimate for a reading of 53.2 and the August reading of 53.7 (July: 52.6, June: 52.1, May: 53.7, April: 53.5, March: 56.7, February: 57.3).

Economic activity in the non-manufacturing sector grew in September for the 34th consecutive month.

Other components of the Report:

• Employment: 51.1 vs. last month: 53.8
  
• Business Activity: 59.9 vs. last month: 55.6
  
• Prices Paid (inflation): 68.1 vs. last month: 64.3

Stocks have actually sold off on the news as traders are focused on the Employment component of the report.

The ISM Non-Manufacturing 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:

• ADP Report Shows Job Market Improved Modestly in September
  
• ISM Manufacturing Returns to Expansion Mode in September
  
• University of Michigan Consumer Sentiment Improves in September
  
• Chicago PMI Dives Below 50 in September
  
• Personal Income and Spending a Mixed Bag in August
  
• Pending Home Sales Point To a Potential Problem
  
• GDP Growth Rate Revised Down Significantly in Q2
  
• Durable Goods Orders Plunged in August
  
• New Home Sales Steady in August
  
• Richmond Fed Index Surprises to the Upside
  
• Consumer Confidence Surges Higher in September
  
• Case-Shiller Home Price Index Improves for 3rd Straight Month
  
• Philly Fed Index Improves in Sept, But Weakness Persists
  
• LEI Dips in August
  
• Exsiting Home Sales Improve in August
  
• Housing Starts Up in August, Permits Lower
  
• Homebuilder Confidence Up Again in Sept
  
• UofM Sentiment Surprises to Upside
  
• Industrial Production, Capacity Utilization Decline in August
  
• Retail Sales Improve In August
  
• CPI - Inflation In Line With Consensus
  
• PPI Hotter Than Expected in August
  
• Jobs Report Disappoints in August
  
• Challenger Planned Job Cuts Hit 20-Month Low
  
• U.S. Productivity Improves, Labor Costs Steady

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