Tuesday, October 6, 2009

ISM Services Show Signs of Expansion

Some more "yesterday's news" as I once again will be traveling all week... services showed signs of expansion for the first time in a year and although it wasn't unexpected, "the media" stated it was at least a partial cause for yesterday's market bounce. Per the ISM:

WHAT RESPONDENTS ARE SAYING ...
  • "Sales are very steady and have risen some each month in the past six months. The bottom is now here." (Construction)
  • "Economic recovery turnaround has begun in the financial services sector; however, cautious expense management is still practiced." (Finance & Insurance)
  • "Lack of capital available for new project development." (Accommodation & Food Services)
  • "Continue to see signs of slow recovery, but customers are still putting orders off until the beginning of 2010." (Professional, Scientific & Technical Services)
  • "Inconsistent ... just when things seem to be settling a bit, a new set of pressures develops." (Retail Trade)
  • "Improvements seen in prices available for natural gas and other fuels." (Educational Services)


Source: ISM