As a follow-up to yesterday’s post on recent data (“Ray Dalio Of Bridgewater Takes Dim View Of Economy; Concurs With Daily Capitalist“), the corollary to the ISM manufacturing report, non-manufacturing data, came in today. The ISM non-manufacturing* index for December was basically flat, unchanged from November. The non-manufacturing sector has been flat since March, 2011. [...]
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Not to make too much of one data point, but one of the good things about ISM data is that unlike tomorrow’s employment report, it is final. Whatever numbers the Labor Department reports tomorrow will be revised and re-revised. Stock traders were mildly encouraged by today’s report from the Institute for Supply Management about [...] |
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