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.
The December 2010 ISM non-manufacturing survey has crossed a boundary into meaninglessness. Employment data points to one of the key problem areas.
The non-manufacturing portion of the economy should show solid growth in November if you believe the Institute For Supply Management survey results.
The Institute of Supply Management (ISM) says in September 2010, their non-manufacturing members believe that conditions are improving month-over-month (MoM). The ISM survey methodology lacks statistical sampling quantification so a small company’s opinion carries the same weight as a large company. This month, however, the ISM’s shotgun methodology has missed the big picture. In …
The ISM non-manufacturing survey for August 2010 indicates the economy is still growing – but at a slower rate.