ISM U.S. non-manufacturing index 60.6 in June

Biz.Yahoo/Reuters ^ | July 3, 2003

[Starwind]

ISM U.S. non-manufacturing index 60.6 in June
Thursday July 3, 10:09 am ET

 NEW YORK, July 3 (Reuters) - The Institute for Supply
Management (ISM) on Thursday said its monthly non-manufacturing
index, which measures the services sector of the economy, rose
to 60.6 in June from 54.5 in May.
 A number above 50 indicates growth, while anything below 50
denotes contraction. Economists polled by Reuters had forecast
a median reading of 55.0 in June.
 Following are the main ISM non-manufacturing index
components:
.               June  May    April  March  Feb   Jan   Dec
Bus Activity    60.6  54.5   50.7   47.9   53.9  54.5  54.2
New Orders      57.5  54.7   50.6   47.7   53.0  56.2  54.6
Backlog Orders  51.5  51.0   46.0   47.5   50.0  48.0  51.5
New Export Ords 49.5  49.0   52.5   48.5   58.5  53.0  54.0
Inventory Sent  62.0  63.0   62.5   66.0   66.5  64.5  63.0
Imports         50.5  58.5   50.0   55.0   51.5  56.5  51.8
Prices Index    51.4  49.6   56.7   62.0   60.9  57.0  55.3
Employment      50.3  48.7   48.2   47.9   49.0  50.3  46.9
Supplier Delivs 51.5  52.0   50.5   52.0   52.5  52.0  52.5
 THE SURVEY: ISM, formerly called the National Association
of Purchasing Management, compiles its diffusion index by
surveying more than 370 purchasing executives in more than 62
different service industries once a month.
 The responses reflect the change in the current month
compared to the previous month. The non-manufacturing ISM
Report is seasonally adjusted for business activity, new
orders, imports, and employment.
 The ISM non-manufacturing survey was launched in July
1997.
 FULL TEXT:
 For the text of the Institute for Supply Management's
Purchasing Managers Survey. It can be found on the Internet at
the following address:
 http://www.ism.ws/

[Starwind]

The full report is at JUNE [2003] NON-MANUFACTURING ISM REPORT ON BUSINESS®

Here's a summary:

ISM NON-MANUFACTURING SURVEY RESULTS AT A GLANCE and
COMPARISON OF ISM NON-MANUFACTURING AND ISM MANUFACTURING SURVEYS*

	Non-Manufacturing				Manufacturing
Index	June Index %	May Index %	Index Change from May	Direction & Rate of Change	June Index %	May Index %	Index Change from May
Business Activity / Production	60.6	54.5	+6.1	Increasing faster	52.9	51.5	+1.4
New Orders	57.5	54.7	+2.8	Increasing faster	52.2	51.9	+0.3
Employment	50.3	48.7	+1.6	Increasing from decreasing	46.2	43.0	+3.2
Supplier Deliveries	51.5	52.0	-0.5	Slowing slower	50.0	51.3	-1.3
Inventories	47.0	52.5	-5.5	Decreasing from increasing	41.3	46.1	-4.8
Prices	51.4	49.6	+1.8	Increasing from decreasing	56.5	51.5	+5.0
Backlog of Orders	51.5	51.0	+0.5	Increasing faster	50.0	51.0	-1.0
New Export Orders	49.5	49.0	+0.5	Decreasing slower	54.4	50.8	+3.6
Imports	50.5	58.5	-8.0	Increasing slower	56.4	52.2	+4.2
Inventory Sentiment	62.0	63.0	-1.0	Lesser feeling of "too high"	N/A
Customers' Inventories	N/A				45.5	45.0	+0.5

[Starwind]

Most of the ISM non-Mfg increases are driven by Real Estate, Construction, and Finance, all of which are related to the new mortages and re-fi's from record low interest rates.

[LS]

Will you QUIT SPINNING. Export orders are not "real estate" related. I'm willing to discuss things with you when you want to be fair, but you clearly have an agenca.

NO MATTER HOW YOU SPIN IT THIS IS GREAT NEWS.

[Starwind]

I'm willing to discuss things with you when you want to be fair, but you clearly have an agenca.

Read the report. Then read all the reports. Get your facts straight.

[arete]

NO MATTER HOW YOU SPIN IT THIS IS GREAT NEWS.

Absoluely. We always have room for more tour guides and insurance and mutual fund salesmen.

Richard W.

[LS]

And software design and sales and advertising and marketing and repair technicians and air conditioning specialists and plumbers and computer techs . . . oh, I forgot, these are all service jobs.

[LS]

Just finished reports that show that virtually all the factors are in place for a pretty good expansion. Consumer expectations UP; personal DISPOSABLE INCOME UP; productivity UP. Keep spinnin, starwind. DU will hire you yet.

[Starwind]

Keep spinnin, starwind. DU will hire you yet.

Ad hominem attacks and avoidance of facts demonstrate the bankruptcy in your thinking.

I said above "Most of the ISM non-Mfg increases are driven by Real Estate, Construction, and Finance, all of which are related to the new mortages and re-fi's from record low interest rates."

From the report:

The industries reporting the highest rates of growth of Business Activity in June are: Real Estate; Transportation; Mining; Construction; and Retail Trade.

The industries reporting the highest rates of growth of New Orders in June are: Real Estate; Communication; Finance & Banking; Agriculture; Transportation; and Mining.

The industries reporting the highest rates of growth in Employment in June are: Real Estate; Transportation; Construction; Retail Trade; Wholesale Trade; and Other Services*

The industries that reported the highest rates of slowing in Supplier Deliveries in June are: Mining; Entertainment; Utilities; Construction; and Public Administration.

The industries reporting Inventory increases in June are: Communication; Real Estate; Insurance; Construction; and Retail Trade.

The industries reporting the highest rates of increase in Prices paid in June are: Agriculture; Mining; Other Services*

The industries reporting growth in Backlog of Orders in June are: Real Estate; Construction; Health Services; and Mining.

The industries reporting the highest rates of increases in New Export Orders in June are: Finance & Banking; Utilities; Transportation; Communication; and Entertainment.

The industries reporting increases in use of Imports in June are: Wholesale Trade and Retail Trade.

The industries that reported the highest rates of feeling that their inventories were too high in June are: Insurance; Construction; Agriculture; Communication; and Utilities.

And your ill-informed, rebutal was Export orders are not "real estate" related.

And having read the reports you now conclude Just finished reports that show that virtually all the factors are in place for a pretty good expansion. Consumer expectations UP; personal DISPOSABLE INCOME UP; productivity UP.

What happened to your research into those industries leading the ISM non-Mfg report? You've spun your argument onto another thread.

[LS]

Transportation (which means orders are being shipped), mining, which means that metal is being mined for production, and retail, which is good. And if the old ad hominem shoe fits . . . .

[Starwind]

So I point out "Most of the ISM non-Mfg increases are driven by Real Estate, Construction, and Finance, all of which are related to the new mortages and re-fi's from record low interest rates." to which your ill-informed rebutal was

Export orders are not "real estate" related.

and when I point out that Real Estate leads 5 of the 10 categories and Construction and Finance are 2nd or 3rd in 7 of the 10 categories, your explanation is

Transportation (which means orders are being shipped), mining, which means that metal is being mined for production, and retail, which is good.

which isn't even an intelligible sentence, let alone on point.

And if the old ad hominem shoe fits . . . .

... you'll wear it every time - but then what else can you do?

[LS]

You go out of your way to miss points. Must be a special class at "gloomster academy." I was not specifically referring to YOUR point but to the DATA which had transportation up, exports up, and yes, CONSTRUCTION up (good). Homebuilding always drives booms. But this notion that only interest rates and "re-fis" are diving home sales doesn't explain the continued boom in construction---that would have petered out long ago.

Finance is doing well because people are saving (you say bad). I say good. Banks lend, things get built. The boom of the 1950s was heavily dominated by the exact same type of real estate market.

[steve86]

We always have room for more tour guides and insurance and mutual fund salesmen.

And econo-babble salespeople.