FYI: The release of the August ISM Non-Manufacturing report handily exceeded forecasts coming in at a level of 58.5 versus consensus estimates for a reading of 56.8. The 1.7 point spread between the actual and report number was also the biggest beat relative to expectations since the January report which was released on 2/5. On a combined basis, accounting for each sector’s share of the overall economy, this month’s Composite ISM came in at a level of 58.8. For perspective, the peak reading in this index for the current period was 59.9 last September.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/strength-in-the-services-sector/
