ISM Non Manufacturing Solid All Things Considered

This morning’s ISM Non Manufacturing came in quite decent at 53.3 vs 52.7 in July and expectations at 50.5 51?ish. New orders rose, employment fell (to the lowest level since September 2010, showing QE2 did wonders in creating jobs), and strangely prices rocketed up 7.7 points. This has helped stabilize the market to some degree it appears.

Full report here.


  • “Overall prices paid are increasing, while sales are still slightly behind projections.” (Public Administration)
  • “This month we have seen a downward trend in sales activities due to weather and economic conditions.” (Construction)
  • “Customer traffic is trending lower, but spending per person continues to increase. Labor cost savings realized through attrition, as fewer replacements are hired. The outlook for the remainder of 2011 is cautiously optimistic, with increased investment in marketing. ‘Sticky prices’ are keeping operating expenses elevated even as commodity supply eases.” (Arts, Entertainment & Recreation)
  • “We had a good first half. Starting to see inflation in many of our input costs. Consumer demand is flat.” (Agriculture, Forestry, Fishing & Hunting)
  • “Business is holding, but looking weaker toward fourth quarter.” (Professional, Scientific & Technical Services)
  • “Business climate uncertainty is increasing.” (Management of Companies & Support Services)

About Mark Hanna 542 Articles

Affiliation: Hanna Capital, LLC

Mark Hanna is President and Owner of Hanna Capital, LLC, a registered investment advisory firm. Mark has been a follower of markets since the late 80s, with a focus on individual equities since the mid 90s. He has been a well known commentator in the financial blogosphere for the past 5 years, following a career in corpoporate finance and accounting. Mark attended the University of Michigan where he graduated with a degree in Economics.

As an avid reader, Market Montage is the personal blogging site for Mark to share his views on economics, markets, and the like. Occasional cynicism and wit shall be deployed in his postings.

Follow Mark on Twitter @fundmyfund.

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