ISM Services Show Signs of Expansion

Posted on Tuesday, October 6, 2009

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Some more "yesterday's news" as I once again will be traveling all week... services showed signs of expansion for the first time in a year and although it wasn't unexpected, "the media" stated it was at least a partial cause for yesterday's market bounce. Per the ISM:

WHAT RESPONDENTS ARE SAYING ...
"Sales are very steady and have risen some each month in the past six months. The bottom is now here." (Construction)
"Economic recovery turnaround has begun in the financial services sector; however, cautious expense management is still practiced." (Finance & Insurance)
"Lack of capital available for new project development." (Accommodation & Food Services)
"Continue to see signs of slow recovery, but customers are still putting orders off until the beginning of 2010." (Professional, Scientific & Technical Services)
"Inconsistent ... just when things seem to be settling a bit, a new set of pressures develops." (Retail Trade)
"Improvements seen in prices available for natural gas and other fuels." (Educational Services)