FYI: Following on the heels of a strong ISM Manufacturing report on Monday, today’s ISM report on the Non Manufacturing sector was also a good one. With economists expecting the headline index to come in at a level of 55.5 compared to August’s reading of 55.3, the actual reading came in at 59.8. This is the highest level for the index since August 2005. This month’s 4.5 point surge also represented the fourth largest one month increase in the history of the survey going back to 1997 and the biggest beat relative to expectations since May 2007. On a combined basis, the September ISM came in at 59.8, which was the highest reading since August 2005.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/huge-beat-in-ism-services/
