2011 Economic Calendar
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ISM Non-Mfg Index
Released On 2/3/2011 10:00:00 AM For Jan, 2011
PriorPrior RevisedConsensusConsensus RangeActual
Composite Index - Level57.1 57.1 57.0 53.4  to 63.5 59.4 

Highlights
More closely watched than ever is the employment component of the ISM's non-manufacturing survey, a reading that offers a broad measure of labor demand. This index jumped nearly two points in January to 54.5, by far the best reading of the recovery and pointing to a positive surprise for tomorrow's big employment report. January's ISM non-manufacturing results are very similar to its report on the manufacturing side released on Tuesday. Gains are wide and convincing led by a nearly 2-1/2 point jump in the headline composite index to 59.4, also a recovery best. Details show especially strong monthly acceleration for new orders, a reading that points to greater acceleration for the broad economy in the months ahead.

Recent History Of This Indicator
The composite index from the ISM non-manufacturing survey in December rose to 57.1, up 2.1 points from November's reading of 55.0. The December figure set a new high for the recovery. And further improvement is likely as the new orders index jumped 5.3 points to 63.0, also a recovery best.

Definition
The non-manufacturing ISM surveys more than 375 firms from numerous sectors across the United States. 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
 
[Chart]
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
 
 

2011 Release Schedule
Released On: 1/52/33/34/55/46/37/68/39/610/511/312/5
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


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