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Wednesday, November 4, 2009

ISM Services Slowly Expanding

No upside in employment in the ISM Services data that we saw in ISM Manufacturing on Monday. Per the ISM:

  • "General economic tone is still 'wait and see.' Capital outlays are postponed for durable goods." (Health Care & Social Assistance)"Cost-cutting efforts continue." (Transportation & Warehousing)
  • "Overall business activity increasing — forecast even better market conditions in the coming months." (Construction)
  • "Business climate remains encouraging, but recovery will remain slow in rebounding." (Professional, Scientific & Technical Services)
  • "The weakening U.S. dollar contributing to upward pressure on commodity prices." (Wholesale Trade)

Source: ISM