The headline
ISM composite indexes for both manufacturing and services remained upbeat (though down from October's levels), with new orders and business activity particularly strong subcomponents of the respective surveys.
Not exact matches
The
ISM non-manufacturing
composite declined to 59.0 in August from 60.3 in July, above expectations of a decline to 58.2.
The
ISM manufacturing
composite index is a diffusion index calculated from five of the eight sub-components of a monthly survey of purchasing managers at roughly 300 manufacturing firms from 21 industries in all 50 states.
Also on the economic agenda today we have
ISM non - manufacturing / service
composite, durable goods, and factory orders at 10 am.
For 2017, the
ISM Purchasing Managers» Index (PMI), the
composite index, finished the year at a strong 59.7 level, bringing the average for the year to 57.6.
Composite activity slowed but nevertheless, remained solid for the
ISM manufacturing sample where the headline index fell 2.4 points to 56.6.
Overall, my impression is that the near - term dynamics of the market are likely to be dominated by this sort of speculative trend following activity - primarily because it will probably still take another 4 - 8 weeks until sensitive coincident economic measures (such as
ISM figures and new claims for unemployment) begin to predictably reflect the deterioration we've seen in various
composites of leading indicators.
Prior Consensus Consensus Range Actual
Composite Index — Level 57.3 57.0 54.5 to 60.0 52.8 The ISM Non Manufacturing composite index showed a 2.4 points decrease to 57.3 in March from February's 5
Composite Index — Level 57.3 57.0 54.5 to 60.0 52.8 The
ISM Non Manufacturing
composite index showed a 2.4 points decrease to 57.3 in March from February's 5
composite index showed a 2.4 points decrease to 57.3 in March from February's 59.7 high.