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Last Update: 06-Sep-11 10:49 ET
ISM Non-Manufacturing Index Accelerated in August
The ISM Non-Manufacturing Index accelerated in August, increasing from 52.7
in July to 53.3. The Briefing.com consensus expected the index to fall to 51.0.
The magnitude of the increase in the ISM Non-Manufacturing Index was not large
enough to shake off the fear of a second recession.
Even though new orders accelerated (52.8 in August from 51.7 in July) and order
backlogs strengthened (47.5 in August from 44.0 in July), the Business Activity
/ Production Index decelerated from 56.1 in July to 55.6 in August.
The employment index decreased from 52.5 in July to 51.6 in August, in-line with
the August Employment Situation Report released last week.
