Still holding that 1120 level which every human and silicon eye has its gaze at.
Full report here. Overall the underlying metrics for new orders and prices are good, but employment fell flat on its face).
"The NMI registered 53 percent in September, 0.3 percentage point lower than the 53.3 percent registered in August, and indicating continued growth at a slightly slower rate in the non-manufacturing sector. The Non-Manufacturing Business Activity Index increased 1.5 percentage points to 57.1 percent, reflecting growth for the 26th consecutive month. The New Orders Index increased by 3.7 percentage points to 56.5 percent. The Employment Index decreased 2.9 percentage points to 48.7 percent, indicating contraction in employment after 12 consecutive months of growth. The Prices Index decreased 2.3 percentage points to 61.9 percent, indicating prices increased at a slower rate in September when compared to August. According to the NMI, nine non-manufacturing industries reported growth in September. Respondents' comments reflect an uncertainty about future business conditions and the direction of the economy."
WHAT RESPONDENTS ARE SAYING ...
- "Weak consumer confidence and high gas prices are placing downward pressure on retail sales volume." (Information)
- "Business volume outlook and confidence across many market areas in North America appear to be softening." (Mining)
- "It appears everyone is waiting to see what happens next. No trust in the economy or the federal government to do what is needed." (Accommodation & Food Services)
- "The 2012 outlook is not optimistic; though we keep hoping for a rebound, we see little sign of an improved economy — nothing at least that will spur growth, investment or expansion. Improved investment performance in early 2011 caused us to begin several large capital projects, and although we have broken ground, we cannot help but question if our timing was right." (Educational Services)
- "Third and fourth quarters appear to be slowing down in order volumes. Uncertainty over U.S. and European economy is causing clients to hold off on new orders." (Professional, Scientific & Technical Services)
- "Negative forecast for housing market's future leads us to think we will be at current levels of business at best for the foreseeable future." (Wholesale Trade)
|ISM NON-MANUFACTURING SURVEY RESULTS AT A GLANCE |
COMPARISON OF ISM NON-MANUFACTURING AND ISM MANUFACTURING SURVEYS*
|Supplier Deliveries||49.5||53.0||-3.5||Faster||From Slowing||1||51.4||50.6||+0.8|
|Backlog of Orders||52.5||47.5||+5.0||Growing||From Contracting||1||41.5||46.0||-4.5|
|New Export Orders||52.0||56.5||-4.5||Growing||Slower||2||53.5||50.5||+3.0|
|Inventory Sentiment||59.0||56.0||+3.0||Too High||Faster||172||N/A||N/A||N/A|