ISM Services November, 2012

November ISM services showed expansion in the largest sector of the economy at 54.7 from 54.2 in October. This is in sharp contrast to the contraction being seen in the manufacturing sector. Report internals and respondent feedback were also very constructive.

The report internals were fairly strong supporting the headline number including a rise in new orders and order backlog. This is clearly a positive for future reports and speaks to strength in the services sector, which is the largest sector of the US economy.

Respondent feedback was fairly optimistic, in sharp contrast to the November