2017 Economic Calendar
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ISM Non-Mfg Index  
Released On 2/3/2017 10:00:00 AM For Jan, 2017
PriorPrior RevisedConsensusConsensus RangeActual
Composite Index - Level57.2 56.6 57.0 56.2  to 58.5 56.5 

Highlights
Keeping with the morning's theme of strength, the ISM non-manufacturing index came in steady at 56.5 with new orders at an even stronger 58.6 and with business activity leading the report at 60.3. Employment, like this morning's jobs report, is solid at 54.7 for a 2-point gain in the month.

But backlog orders, despite the strength in new orders, remain flat which will contain future employment gains. Another negative is new export orders which had been strong reflecting foreign demand for U.S. technical and managerial services but which fell into contraction in January at 48.0.

The bulk of the data, however, is very strong, starting off 2017 on the same note of strength that the report showed throughout 2016.

Recent History Of This Indicator
The ISM non-manufacturing index, at a very strong 57.2 in both December and November, has been pointing to acceleration for the bulk of the U.S. economy. New orders led December's report at 61.6 which points to strong activity through the January report. The Econoday consensus for January is 57.1.

Definition
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
 
[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
 
 

2017 Release Schedule
Released On: 1/52/33/34/55/36/57/68/39/610/411/312/5
Release For: DecJanFebMarAprMayJunJulAugSepOctNov
 


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