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Wednesday, March 4, 2009

ISM Services (February)

Earlier this morning, Marketwatch reported:

U.S. nonmanufacturing sectors contracted at a faster pace in February, according to a Wednesday report from the Institute for Supply Management, as the global slowdown continued to take its toll. The ISM non-manufacturing index fell to 41.6% in February from 42.9% in January as survey respondents' comments reflected concern about financing and general weak economic conditions. Economists polled by MarketWatch were looking for a February result of 41%. Readings below 50% indicate that more firms are contracting than expanding.

Source: ISM