Home   Logon   Mobile Site   Research and Commentary   About Us   Call 1.800.621.1675 or Email Us       Follow Us: 

Search by Ticker, Keyword or CUSIP       
 
 

Blog Home
   Brian Wesbury
Chief Economist
 
Click for Bio
Follow Brian on Twitter Follow Brian on LinkedIn View Videos on YouTube
   Bob Stein
Deputy Chief Economist
Click for Bio
Follow Bob on Twitter Follow Bob on LinkedIn View Videos on YouTube
 
  The ISM non-manufacturing composite index increased to 56.8 in January
Posted Under: Data Watch • ISM Non-Manufacturing

 
Implications:  Great news on the service sector this morning! The ISM services index blew away consensus expectations, coming in at 56.8, the highest level since February 2011. The service sector has now shown expansion for 25 straight months. The business activity index, which has a stronger correlation with real GDP growth than the overall index, boomed in January, coming in at 59.5.  The new orders index also took off, rising to 59.4, the highest level since March.  Perhaps the best news from today's report was that the employment index rose to 57.4 in January from 49.8 in December. This is the highest reading on the employment index since February 2006 and helps back up the great numbers we saw in this morning's Labor Department report. On the inflation front, the prices paid index rose to 63.5 after falling slightly to 62.0 last month.  The index remains at elevated levels, indicating upward price pressure.  In other recent news, January same-store chain store sales were up 4.8% from a year ago, according to the International Council of Shopping Centers.  These figures, along with strong auto sales as well as other data, suggest a very strong January for overall retail sales.  The new year is off to a fast start as the economy continues to pick up steam.

Click here for a printable version.
Posted on Friday, February 3, 2012 @ 10:56 AM • Post Link Share: 
Print this post Printer Friendly

These posts were prepared by First Trust Advisors L.P., and reflect the current opinion of the authors. They are based upon sources and data believed to be accurate and reliable. Opinions and forward looking statements expressed are subject to change without notice. This information does not constitute a solicitation or an offer to buy or sell any security.
 
The information presented is not intended to constitute an investment recommendation for, or advice to, any specific person. By providing this information, First Trust is not undertaking to give advice in any fiduciary capacity within the meaning of ERISA, the Internal Revenue Code or any other regulatory framework. Financial professionals are responsible for evaluating investment risks independently and for exercising independent judgment in determining whether investments are appropriate for their clients.
First Trust Portfolios L.P.  Member SIPC and FINRA. (Form CRS)   •  First Trust Advisors L.P. (Form CRS)
Home |  Important Legal Information |  Privacy Policy |  California Privacy Policy |  Business Continuity Plan |  FINRA BrokerCheck
Copyright © 2021 All rights reserved.