Services ISM survey falls indicating no recovery

By Edward Harrison On Aug 5, 2009

The July 2009 Non-Manufacturing ISM Report On Business disappointed as it dropped to 46.4 from 47.0. Expectations had been for 48.0. The new orders and jobs components both fell, suggesting that the services sector is still contracting and not poised for an imminent rebound.

In fact, much of the data show the contraction in the services sector increasing last month, not decreasing. So while manufacturing is rebounding, the services sector is not. Is a technical recovery upon us? Not according to these numbers.

Source

Non-Manufacturing ISM Report On Business – ISM website

Economic Data recovery

Edward Harrison 7783 posts 575 comments

Edward Harrison is a senior Editor at Bloomberg. He is also the founder of Credit Writedowns newsletter, a former career diplomat, investment banker and technology executive with over twenty five years of business experience. He speaks six languages and reads another five, skills he uses to provide a more global perspective. Edward holds an MBA in Finance from Columbia University and a BA in Economics from Dartmouth College.

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