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Wednesday, February 3, 2010

Services Sector Improves.... Slightly

ISM reported on the services sector this morning (I was traveling, thus the delay). Marketwatch with the details:

The service sectors of the U.S. economy rebounded in January, the Institute for Supply Management reported Wednesday. The ISM non-manufacturing index rose to 50.5% from 49.8% in December. Despite the improvement, the increase was below expectations. Economists were looking the index to rise to 51%. The index had been above 50 for two months in the fall but then slipped under the threshold in November and December. The closely-watched employment index rose to 44.6% in January from 43.6 in December. The employment index has been below 50 since December 2007. It hit a low of 31.1 in November 2008.

Source: ISM