The ISM non-manufacturing index just beat expectations in March, coming it 55.4 vs. just 54 expected. Still, note below that the Employment sub-index continues to indicate some contraction on the jobs front.
Nevertheless, there’s a lot of good news, in that multiple sub-indices such as Export Orders and Order Backlog where previous contraction has switched to expansion.
* “Business conditions have returned to normal (pre-recession). Our business is up significantly since 2009. We are very positive about the upcoming year.” (Information)
* “Demand for loans, credit cards, mortgages and equity lending is expected to continue to increase.” (Finance & Insurance)
* “Brisk business activity continues as more projects get ‘green light.'” (Utilities)
* “Observing some relaxation on several fronts regarding spending and hiring. Still very cautious, but making investments where they make sense.” (Retail Trade)
* “Limited funding available for development [and] expansions.” (Accommodation & Food Services)
* “The economy appears to be holding its own; however, state and local funding is projected to decrease next fiscal year.” (Educational Services)
We’re looking at a decent upwards trend now in the monthly numbers:
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