December ISM Rises To 57, But...

The number:

December ISM of 57 is up from 56.6 last month, but… it’s a little bit light of some expectations of 57.3, and it’s not unreasonable to have guessed that there was a “whisper” that was even higher. So, yes, this is fine and shows some growth, but nothing to write home about.

 

Background: Here it is, the first major US macroeconomic datapoint of 2011 in the form of the ISM. Analysts are looking for a reading of 57.3, vs 56.6 last month. Europe saw a host of very strong reports, while China’s PMI was a bit on the weak side.

US markets are rallying big time ahead of the report.

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