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ISM Non-Manufacturing Shows Slight Expansion in January

By Anonymous

This is another weak service report. According to this survey, the service sector barely expanded in January, and employment also contracted in the non-manufacturing sector "for the 25th consecutive month".

From the Institute for Supply Management: January 2010 Non-Manufacturing ISM Report On Business®

In January, the NMI registered 50.5 percent, indicating growth in the non-manufacturing sector after two months of contraction. A reading above 50 percent indicates the non-manufacturing sector economy is generally expanding; below 50 percent indicates the non-manufacturing sector is generally contracting.
...
"The NMI (Non-Manufacturing Index) registered 50.5 percent in January, 0.7 percentage point higher than the seasonally adjusted 49.8 percent registered in December, indicating growth in the non-manufacturing sector. The Non-Manufacturing Business Activity Index decreased 1 percentage point to 52.2 percent, reflecting growth for the second consecutive month. The New Orders Index increased 2.7 percentage points to 54.7 percent, and the Employment Index increased 1 percentage point to 44.6 percent.
...
Employment activity in the non-manufacturing sector contracted in January for the 25th consecutive month. ISM's Non-Manufacturing Employment Index for January registered 44.6 percent.
emphasis added

Full post as published by Calculated Risk on February 03, 2010 (boomark / email).