ISM Non-Manufacturing Data Stagnant

Posted by Mr. P | News & Media | Wednesday 3 March 2010 6:06 PM

Services sectors show best growth in two years: ISM data

Rollercoastering through unemployment, the US is soon to fill with jobs that have to be created for today’s youth (or as a youth, I hope).  After IBM’s non-manufacturing index rose 2.5 points to 53.0 points, there truly is a significant improvement in employment as the US service sectors grow at the fastest pace in more than two years this past February.

The Institute for Supply Management survey resulted the ISM non-manufacturing index rose to 53 in February from 50.5 in January, marking the best reading since December 2007.  ISM surveyed nearly 400 firms from 60 US sectors; including agriculture, mining, construction, transportation, communications, wholesale trade, and resale trade.

So, is the economy truly climbing the rollercoaster?  Leveling out?  Jennifer Lee, senior economist for BMO Capital Markets, says, “The US economy is recovering…it fits and starts.”  In other words, the economy stalls and then picks up.

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