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2008 Economic Calendar |
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Resource Center » U.S. & Intl Recaps | Release Dates | Why Investors Care | Today's Calendar
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The non-manufacturing ISM surveys nearly 400 firms from 60 sectors across the United States, including agriculture, mining, construction, transportation, communications, wholesale trade and retail trade. Financial market players monitor the business activity index, because a composite index, like its manufacturing cousin, is not compiled by the ISM. Why Investors Care
| Released on 8/3/06 For Jul 2006 | ||||||||||||
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Highlights
The nation's non-manufacturing sector fell back in July to show the slowest rate of growth since the hurricane disaster of Katrina, according to the Institute For Supply Management. The ISM's index fell from June's 57.0 to 54.8 in July to still indicate growth but a slowing rate of growth. Growth in new orders, which point to future activity, also slowed, down to 55.6 vs. 56.6. But backlog orders continued to show healthy growth, at 56.0 vs. 55.5, while inventory growth rose a bit to 53.0 vs. 51.5.
In a clear plus for the report, the non-manufacturing employment index rose to 54.5 from a weak 52.0 in June. July's gain puts the employment index roughly in line with its long-term trend. The index is likely to bolster what are mixed expectations for tomorrow's big monthly jobs report.
But prices paid were a negative, rising to 74.8 from 73.9 and confirming similar signs of severe month-to-month cost pressure for raw materials reported earlier this week in the ISM's manufacturing report.
Bonds firmed on the headline weakness in the report while the dollar showed little reaction.
The business activity index from the ISM non-manufacturing survey edged down to 57.0 in June from 60.1 in May. New orders also slipped, indicated a moderation in future activity.
Business activity index Consensus Forecast for July 06: 56.5
Range: 54.5 to 59.0
![[Chart]](chart.gif)
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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. |
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