Random Blip or Double Dip?

The ISM Non-Manufacturing Index registered a 48.7 in November, lower than the 50.6 percent registered in October, indicating contraction in the non-manufacturing sector after two straight months of expansion.

What Respondents are Saying per ISM:

• "Capital markets remain very tight; lenders are not releasing funds for development projects, limiting expansion." (Accommodation & Food Services)
• "Fourth quarter still looking grim, but potential upturn for Q1 2010." (Professional, Scientific & Technical Services)
• "No one trusts that the recovery is real. Seems everything and everyone is in a holding pattern." (Public Administration)
• "Business is still flat." (Wholesale Trade)
• "U.S. business remains better than 2007 levels, although it's been through personnel and cost reductions that we are now profitable. Business continues to be about 8 percent below 2008 levels." (Real Estate, Rental & Leasing)

Source: ISM