ISM Manufacturing Index

[ekatteng]

Why THE INSTITUTE FOR SUPPLY MANAGEMENT manufacturing index is so important ? is it ?

[tsptalk]

ISM Non-Manufacturing Index For: Nov

Actual: 69.1%

B.com Forecast: 63.5%

B.com Cons: 65.0% | Prior: 66.7%

https://www.briefing.com/calendars/economic/display-article?ArticleId=ER20211203100000ISMNon-ManufacturingIndex&FileName=napmserv.htm

[tsptalk]

ISM Services PMI improves to 56.5 in November vs. 53.1 expected


US ISM Services PMI rose modestly in November.

US Dollar Index gained traction after the data and climbed to the 105.00 area.

The business activity in the US service sector continued to expand at an accelerating pace in November with the ISM Services PMI rising to 56.5 in November from 54.4 in October. This reading came in better than the market expectation of 53.1.


https://www.fxstreet.com/news/us-ism-services-pmi-improves-to-565-in-november-vs-531-expected-202212051505

[TommyIV]

Can we credit today's losses to this? Is the market really this sensitive to positive economic indicators?

[tsptalk]

The futures did dip further after the ISM was released, but they were sinking most of the night beforehand.

But yes, it seems like the market will be sensitive to economic data between now and the CPI and Fed meeting next week.

[tsptalk]

Another reason for today's drop in yields, decline in the dollar, and rally in stocks...



The ISM Non-Manufacturing Index for December dropped to 49.6% (Briefing.com consensus 55.0%) from 56.5% in November.

The dividing line between expansion and contraction is 50.0%.

https://www.tsptalk.com/images/mb/2023/tsp-010623e.gif

https://www.briefing.com/calendars/economic/display-article?ArticleId=ER20230106100000ISMNon-ManufacturingIndex&FileName=napmserv.htm
https://www.tsptalk.com/images/mb/2023/010623e.gif