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ISM Services Index Cruises To A New Nine Year High
FYI: If you were looking for signs that the US economy is showing slower momentum, today's ISM Non Manufacturing Index was not for you. While economists were expecting a decline to 57.7 from July's reading of 58.7, the actual reading came in at 59.6, which was the highest reading since August 2005 (61.3). As shown in the top chart below, after oscillating within a range of roughly 52 to 58 since early 2010, the Services sector appears to have broken out. regards, Ted http://www.bespokeinvest.com/thinkbig/2014/9/4/ism-services-index-cruises-to-a-nine-year-high.html?printerFriendly=true
During the Silly Seasons, I wish the ISM itself could be "seasonally adjusted." I'm not sure what that would entail, but it would be something more serious than a joke.
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http://www.zerohedge.com/news/2014-09-04/about-seasonally-adjusted-soaring-ism-number