ISM Services PMI Rep: 53.4% ✅ HIGHER THAN EXPECTED ✅ Exp: 51.7% Prev: 50.5% (revised down marginally from 50.6%) The reading for ISM Services PMI came in much higher than expected with services remaining in expansionary territory for Jan 2024 (>50 Level) Whilst ISM Manufacturing PMI came in at 49.1 on the 1st Feb (<50 level) and in contractionary territory,...
US ISM Non-Manufacturing Index (ISM Services) Next Release: 5th December 2023 (released on third business day of each month) The U.S. Institute for Supply Management (ISM) Non-Manufacturing Index (“ISM Services”) encompasses a wide range of services across various industries. The index is designed to measure the economic activity and health of the services...
It seems nearly all of the pieces to the puzzle is falling into place. The ISM is the most important LEADING indicator and now ALL is in contraction. Even those who display certain optimism about the state of the economy should now be in doubt. The sudden drop of the Non-Manufacturing PMI from 56.5 (November) to 49.6 (December) is certainly an indication of...
**Repost from Dec 13th 2022 since the original post disappeared** Economic indicators from the past month indicate that the price of services is the key factor that helps prevent a rapid decline in inflation , although the price of goods had already dropped considerably and the labor market remained strong, showing no signs of slowing down the inflation rate. ...