Economic Charts

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Wednesday, January 5, 2011

December ISM Non-Manufacturing

The December ISM Non-Manufacturing report was released today. ISM Non-Manufacturing measures the level of a diffusion index based on surveyed purchasing managers, excluding the manufacturing industry. It is considered a leading indicator of economic productivity. The forecast called for an index of 55.6, but the actual headline index came in at 57.1. This was a beat from Novembers 55.0.
Similar to the ISM PMI report Business Activity and New Orders were growing, but employment and supplier deliveries were growing slower.
Inventories and prices were increasing.  The rising prices has accelerated and will eventually be passed on to the consumer if they haven't already.

Even though the new orders news is very encouraging the trend with prices and inventories is not so encouraging.  The increased prices may impact new orders in the near term.

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