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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 12/5/05 For Nov 2005 | ||||||||||||
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Highlights
The Institute For Supply Management's non-manufacturing index for November slipped back to a still very strong 58.5 vs. 60.0 in October. New orders, which are not a component of the main index, actually rose to 59.5 from 58.2 to indicate future strength in the main index. Export orders were especially strong, like they were in last week's ISM manufacturing report, while backlogs slipped back one point to 54.0 to indicate still solid month-to-month growth. The readings indicate continued acceleration in the nation's mining, construction, utility and service sectors.
Price readings which have been skyrocketing due to rising material and energy costs slipped back to a still inflationary 74.2 vs. 78.0 in October -- but at least the direction is right. Employment at 57.0 vs. 52.9 is a big positive in the report, helping to confirm last week's solid payroll numbers.
Supplier deliveries, at a near record 60.5, offer an indication of just how strong business activity is. The level reflects tight shipping conditions made worse by lingering hurricane effects. Inventories also rose likely reflecting the slowdown in deliveries and also stockpiling of supplies on concern of cost escalation.
Bonds were moving lower in initial reaction to the results, which may help give a boost to stocks and the dollar through the day.
The business activity index from the ISM non-manufacturing jumped nearly 7 points in October to 60. The level of this index is not quite as high as it was this summer, but is a sharp improvement from the September level.
Business activity index Consensus Forecast for Nov 05: 59
Range: 54.5 to 62.5
![[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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