FYI: While activity in the Manufacturing sector slowed down modestly during the month of January, things really picked up steam in the Services sector, and by even more than economists were expecting. As shown in the top chart below, the ISM Services report for January surged to 59.9 from last month’s reading of 56.0. Not only was January’s 3.9 m/m increase the sixth largest since 1997 and the third largest of the current economic expansion, but at 59.9, the headline index has only been higher in three other months. On a combined basis and accounting for each sector’s share of the total economy, our January combined ISM came in at 59.8, which is also right near the highest levels of the current economic cycle.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/ism-services-back-at-cycle-highs/
