Friday, February 3, 2012

ISM Non-Manufacturing Rose 3.8 Points January

The ISM’s Non-Manufacturing index grew 3.8 points to 56.8 in January, indicating that the non-manufacturing sector continues to expand more rapidly than the manufacturing sector and is growing at its fastest level since March. Non Gains in the index were broad based, but led by employment. The business activity index improved 56.2 to 59.5.

The details of today’s report are encouraging as well, with new orders rising from 53.2 to 59.4, the third consecutive monthly increase and largest since April 2009. New export orders rose as well, gaining 5.5 points, indicating that the hit from Europe’s recession has been mild.

The employment index jumped as well, entering expansionary territory as it moved from 49.4 to 57.4. This is the second consecutive monthly gain and the largest since the inception of the series in July 1997.

Read the report.

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