The ISM Services Index increased to 59.4 in January, higher than the expected level of 57.2, after increasing to 57.1 in December and increasing to 55 in November. The index’s complement, the ISM Manufacturing Index increased to 60.8 on last Tuesday’s release after increasing to 58.5 in December.
Factory Orders increased by 0.2%, $0.7 billion, to $426.8 billion in December against expectations that the measure would remain unchanged, following a 1.3% increase in November, revised upwards from a reported 0.7% increase. Factory Orders are up 5 of the last 6 months. Excluding transportation, Factory Orders increased by 1.7%.