ISM Non-Manufacturing Index

The Institute for Supply Management’s non-manufacturing composite index fell back more than analysts expected in July, dropping 3.5 percentage points to 53.9. Most economists expect non-manufacturing to pick-up over the next several months since consumer spending remains robust and construction activity is holding-up well. On a 3 month moving average basis (3MMA), the index scored [...]

ISM Manufacturing Index

The Institute for Supply Management’s manufacturing index for continues to perform well despite a 1.5 point drop to 56.3 in June, which was in-line with analysts’ expectations. The decline stemmed from a 3.1 point drop in new orders to a still very strong 60.4. Fourteen of 18 industries reported growth in new orders to include [...]

U.S. Industrial Production

The IP index on a three month moving average (3MMA), basis ticked up 0.4% month on month (m/m), beating analysts’ expectations of 0.3% growth. Industrial production advanced at an annual rate of 4.7% the Q2 as mining (includes oil exploration) and utilities were the principal contributors. Manufacturing output rose at an annual rate of 1.4%, [...]

ISM Non-Manufacturing Index

The Institute for Supply Management’s non-manufacturing composite index for June moved-up 0.5 percentage point to 57.4, beating analyst’s expectations by 0.5 percentage point. On a 3 month moving average basis (3MMA), the index scored 57.3, up 4.1% year on year, (y/y). Momentum (defined as 3 month minus 12 month), was positive 3.8%. Overall a good [...]

ISM Manufacturing Index

The Institute for Supply Management’s manufacturing index for June increased by 2.9 percentage points month on month (m/m), to 57.8, besting analyst expectations. New orders surged points percentage points 5.3 m/m. This was the second consecutive gain and puts the index back above 60 for the first time since March. Fifteen of the 18 industries that [...]

ISM Non-Manufacturing Index

The Institute for Supply Management’s non-manufacturing composite index for May fell a fraction of a point to 56.9, slightly lower than analyst’s expectations. On a 3 month moving average basis the index scored 56.5, up 4.0%. Momentum (defined as 3 month minus 12 month), was positive 3.8%. Overall, the details were encouraging. The ISM nonmanufacturing [...]