Backlog has been growing in the hard data so it is easy to believe the survey is likely correct. New orders continued its four month downward trend line which is a seeming contradiction – intuitively new orders and backlog should move in the same direction.
Tag Archives: business conditions
ISM Non-Manufacturing Survey Improves in January 2011
It is no surprise that the purchasing managers believe the service segment of the economy is expanding in January after the strong ADP data earlier this week.
Empire State Manufacturing Survey Up and Noisy
Overall the NY Fed Empire State Manufacturing Survey does not correlate well with Industrial Production. Use the data from all surveys at your own risk.