2010 Economic Calendar
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ISM Non-Mfg Index  
Released On 11/3/2010 10:00:00 AM For Oct, 2010
PriorConsensusConsensus RangeActual
Composite Index - Level53.2 54.0 53.0  to 55.2 54.3 

The bulk of the economy picked up steam in October according to the ISM's non-manufacturing index which rose 1.1 points in October to 54.3. New orders show special monthly acceleration, at a 56.7 level for a nearly two point gain. Backlogs orders moved back over 50 at 52.0 to indicate a month-to-month build. Rising orders and rising backlogs point squarely at rising employment.

This report's employment index has been stubbornly slow, inching seven tenths higher to 50.9 to indicate only mild month-to-month hiring for October. Yet gains are likely to accelerate based not only on orders but on existing production needs, reflected in the business activity index which jumped nearly six points to 58.4.

This report is very positive, indicating that prior and once again accelerating gains in the manufacturing sector are now spilling into the non-manufacturing sector.

Consensus Outlook
The composite index from the ISM non-manufacturing survey in September rose 1.7 points to 53.2. Most of the key sub-indexes improved. Employment rose 2.0 points to 50.2 to show no month-to-month change. Also, a slowing in delivery times was a definitive sign of strength in this report, at 55.0 for the highest reading in more than two years. And there may be further improvement in October as the new orders index rebounded 2.5 points to 54.9.

The Institute For Supply Management surveys more than 375 firms from numerous sectors across the United States for its non-manufacturing index. This index covers services, construction, mining, agriculture, forestry, and fishing and hunting. The non-manufacturing composite index has four equally weighted components: business activity (closely related to a production index), new orders, employment, and supplier deliveries (also known as vendor performance). The first three components are seasonally adjusted but the supplier deliveries index does not have statistically significant seasonality and is not adjusted. For the composite index, a reading above 50 percent indicates that the non-manufacturing economy is generally expanding; below 50 percent indicates that it is generally declining. The supplier deliveries component index requires extra explanation. A reading above 50 percent indicates slower deliveries and below 50 percent indicates faster deliveries. However, slower deliveries are a plus for the economy -- indicating demand is up and vendors are not able to fill orders as quickly.  Why Investors Care
The ISM non-manufacturing survey does not compile a composite index like its manufacturing cousin. The business activity index, which is actually akin to the production index in the manufacturing survey, is widely followed as the key figure from this survey.
Data Source: Haver Analytics

2010 Release Schedule
Released On: 1/62/33/34/55/56/37/68/49/310/511/312/3
Release For: DecJanFebMarAprMayJunJulAugSepOctNov

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