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More on ISM: At 54.2, it's the highest print since June 2011. New Orders rise to 57.8 from 53.3....

Friday, March 1, 10:21 AM ET
More on ISM: At 54.2, it's the highest print since June 2011. New Orders rise to 57.8 from 53.3. Production 57.6 vs. 53.6. Prices 61.5 vs. 56.6. Backlogs 55 vs. 47.5. Supplier deliveries weaken to 51.4 from 53.6. The strong print has shaken some of the gloom off of stocks, the S&P -0.4% after being off nearly 1% earlier. (full report)

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This news story has 6 comments:

whidbey Comments (3039)

Much of the rush on new orders this report is due govt buys to do two things: beat the sequester and get ahead of raw material cost increases which are forecasted for this year. The consumer backlog does not appear to be growing at this point in the PMI, and given incomes and retail sales there is little reason to expect growth. Housing is doing well because the GSEs are backing about 90% of sales which are once again low down payment mortgages, often to prior defaulters. Investors must be more discriminate in consumption of government data, and PMI, which is a dispersion index: the number of participants saying things are up or down has not quantitative element which identifies the underlying quantitative changes in the sampled elements. The consumer sentiment is a mystery and should be watched carefully.

1 Mar, 10:53 AM Reply Like

minecanary Comments (217)

It looks to me like Bennie is buying the index. The numbers are a farce just like the housing recovery. We'll know as soon as the WH meeting breaks up w/no resolution and stocks still climb

1 Mar, 11:12 AM Reply Like

june1234 Comments (931)

If you look at a ISM chart it was around 60 in summer of 2010. Like the Feds Fisher said the other day it ain't working cause all that money is going to the wrong people. That guy should be in charge

1 Mar, 11:32 AM Reply Like

june1234 Comments (931)

If there was a financial media reporting index i would be very wealthy. Yesterday someone commented comparing the Chicago PMI which was down yr over yr was not relevant, today it is relevant cause financial media said so. stay tuned for Mondays episode of the recovery .

1 Mar, 03:36 PM Reply Like